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ARTICLE · 15 MARCH 2017

10 Takeaway Points On Luxembourg's RAIF

Reed Smith (Worldwide)
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Nevertheless, a RAIF's investment policy is subject to certain risk diversification requirements laid down by the CSSF.

European UnionFinance and Banking
Edward Ewart
Edward Ewart
Oliver S'Jacob
Oliver S'Jacob
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The Luxembourg law on reserved alternative investment funds (RAIF) is a welcome addition to the alternative investment funds (AIF) industry and we have seen keen interest from the fund and asset management industry in this new platform. Since its introduction last summer, for the first time in Luxembourg there is the ability to set up a fund that can avail itself of the same advantages (including, crucially, the beneficial tax treatment) available to a regulated fund without the fund vehicle itself needing CSSF approval, provided that the manager is itself authorised as an EU domiciled AIFM.

  1. What is the RAIF?
    The RAIF law introduces a new framework under which EU based AIFMs can structure a fund product. The RAIF is a Luxembourg AIF that must be managed by an authorised AIFM so whilst the manager of a RAIF will be subject to AIFMD requirements, there is no CSSF supervision of the RAIF itself.

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