Clifford Chance

Luxembourg Law of 12 July 2013 - Implementing the AIFM Directive

10 February 2014

The Luxembourg law of 12 July 2013 on alternative investment fund managers (AIFM Law) entered into force on 15 July 2013. It implements Directive 2011/61/EU of 8 June 2011 on alternative investment fund managers (AIFMD) and introduces a number of other changes to existing Luxembourg legislation, including the laws governing regulated investment vehicles.

In addition, the Commission de Surveillance du Secteur Financier (CSSF) published frequently asked questions (FAQ), as updated from time to time, which provide clarifications on certain aspects of the AIFM Law.

This client briefing gives an overview of the main features of the AIFM Law and its transitional provisions, as specified by the FAQ. It focuses on the key changes introduced by the AIFM Law to the current legal framework of Luxembourg regulated investment vehicles (i.e. Part II UCIs, SIFs and SICARs) and Luxembourg management companies.‎

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