The law of 12 July 2013 relating to investment managers of alternative investment funds (the “Law”) was published in the Memorial A N° 119 on 15 July 2013. The CSSF has published the Law on their website. To access the Law please click here.
ALFI publishes Principles for the Oversight of Financial Intermediaries in Distribution of Funds guidelines- Publications
The Association of the Luxembourg Fund Industry (ALFI) has published a set of Principles for the Oversight of Financial Intermediaries in Distribution of Funds, in line with its mission to help members capitalise on industry trends and to encourage professionalism, integrity and quality within the Luxembourg fund industry.
These joint recommendations have been prepared by representatives of ALFI and ILA’s working group specifically dealing with VAT on the remuneration of directors of UCIs and their management companies. The working group comprises independent directors, representatives of management companies, audit firms and law firms. ALFI and ILA hope that this document will serve their members as a reference document.
The Reserved Alternative Investment Fund (RAIF) vehicle combines the characteristics and structuring flexibilities of Luxembourg regulated specialised investment funds (SIFs) and investment companies in risk capital (SICARs) qualifying as AIFs managed by an authorised AIFM, except that RAIFs are not subject to CSSF approval before they are launched. This permits the achievement of a significantly enhanced time-to-market for new fund launches.
Luxembourg Caisse de Consignation publishes FAQs regarding immobilisation of bearer shares and units- Publications
On 5 February 2016, the Luxembourg Caisse de Consignation published Frequently Asked Questions regarding the Law of 28 July 2014 on the immobilisation of bearer shares and bearer units.
New questions regarding the "UCITS V" implementation
Target2-Securities (T2S) will have a significant impact on the European securities industry and will also change the way the fund industry operates. The ALFI T2S working group produced this Q&A to assist the industry professionals in understanding the implications of T2S for funds and how they can capitalise on the infrastructure in their organisation.
It is a regulatory requirement that the board of a Fund, the Management Company or the Alternative Investment Fund Manager (AIFM) remain responsible for the activities delegated to third parties and the need to oversee their activities and performance. With a view to simplify and facilitate initial and ongoing due diligence reviews, an ALFI working group under the aegis of the ALFI Fund Governance Forum was created to consider whether the different approaches taken to due diligence on delegates by the boards of Luxembourg funds, management companies, and AIFMs could be more consistent.
ALFI annual report 2014-2015 presents facts and figures on the development of the Luxembourg investment fund industry and the activities of our association. Link to flip book version. Older editions can be found here.