What is a well informed investor?
Investments in a RAIF may be made by “well-informed investors”, which are defined as: institutional investors, professional investors, or any other investor who has confirmed in writing that they are a “well-informed investor” and who either invests a minimum of €125,000 or has obtained an appraisal from a credit …
What is a SIF in Luxembourg?
A specialised investment fund (“SIF”) is an investment vehicle designed for sophisticated investors that is regulated by the Luxembourg Commission de Surveillance du Secteur Financier “CSSF”). SIFs benefit from having a relatively prompt set-up process, low costs and minimal taxation in Luxembourg.
What qualifies as an AIF Luxembourg?
An unregulated vehicle qualifies as an AIF if its activities fall within the scope of the AIFM Law and if no exemption is available. Unregulated vehicles are useful for private equity, venture capital, infrastructure and real estate investment structuring, as well as for a holding and financing activity.
What is an FCP Raif?
• Commond fund (FCP) A RAIF may be structured as an FCP (fonds commun de placement or common fund – FCP RAIF), a co-ownership of assets governed by management regulations and managed by a CSSF regulated management company. The RAIF Law largely reproduces the SIF Law concerning the management company.
What does Aifmd stand for?
Alternative Investment Fund Managers Directive
Alternative Investment Fund Managers Directive (AIFMD)
What is a SIF in finance?
A Specialised Investment Fund (SIF) is an investment fund that can invest in all types of assets. It usually qualifies as alternative investment fund (AIF) and can be sold to well-informed investors.
What qualifies as an AIF?
Under AIFMD, an alternative investment fund or “AIF” is: Both open-ended and closed-ended vehicles and listed and un-listed vehicles can be AIFs for the purposes of AIFMD. The definition captures a broad range of vehicles that would be regarded as “funds”, including all non-UCITS investment funds, wherever established.
What is not an AIF?
AIF does not include funds covered under the SEBI (Mutual Funds) Regulations, 1996, SEBI (Collective Investment Schemes) Regulations, 1999. or any other regulations of the Board to regulate fund management activities. Further, certain exemptions from registration are provided under the AIF.
Is a Raif and AIF?
Description. The Reserved Alternative Investment Fund (RAIF) is an investment fund that can invest in all types of assets. It qualifies as alternative investment fund (AIF) and is not itself subject to CSSF product approval. RAIFs must appoint an authorised external Alternative Investment Fund Manager (AIFM).
What is a Luxembourg FCP?
A FCP in Luxembourg is the acronym from Fonds Commun du Placement, which represents a common investment fund that is registered as an open-ended mutual fund.
What is the difference between AIFMD and UCITS?
The key difference between the two texts is that UCITS requires a “risk management process” that “enables it to monitor, measure at any time” whereas the AIFMD legislation require “risk management systems” that will be used “in order to identify, measure, manage and monitor all risks … to which each AIF is or may be …