Politics & Regulation

Luxembourg modifies rules for SIFs

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Earlier this month the Luxembourg government approved a draft bill modifying the law on Specialized Investment Funds, or SIFs, an alternative Luxembourg-domiciled non-UCITS investment vehicle.

The bill is not officially law – it adapts SIF legislation to certain aspects of the Alternative Investment Fund Managers Directive, which was previously introduced for UCITS.

These aspects include requirements on delegation and risk management as well as integrating certain improvements like cross-compartment investments.

The AIFMD, which was published in the Official Journal of the European Union on 1 July 2011, will regulate the activities of entities engaged in the management and administration of