•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

By: Mathieu Volckrick and Adam M. Paschalidis - Asset Management and Investment Funds Alert from global law firm K&L Gates.

With the recent entry into force of the Modernization Law of 21 July 2023 on 28 July 2023, Luxembourg significantly modernizes its investment fund toolbox by introducing several amendments to existing laws governing alternative investment funds (AIFs) and alternative investment fund managers (AIFMs), including the UCI Law, the SICAR Law, the SIF Law, the RAIF Law (the Fund Product Laws), and the AIFM Law.

The general objective of this modernization is to enhance the competitiveness of the Luxembourg fund hub and the appeal of Luxembourg AIFs by increasing structuring opportunities for marketing private strategies to investors that do not qualify as professional investors. These amendments will benefit all types of Luxembourg AIFs and should contribute further to the recent uptick in popularity of Luxembourg-based European long term investment funds (ELTIF), following the recent improvements to Regulation (EU) 2015/760 on ELTIFs by Regulation (EU) 2023/606 of 15 March 2023.6

This article summarizes the key changes to the Fund Product Laws introduced by the Modernization Law and their implications for fund managers and investors.

KEY CHANGES TO LUXEMBOURG FUND PRODUCT LAWS

Harmonization of Investor Eligibility Conditions To achieve its goal of increasin......................

To view our full article Click here