Luxembourg Modernises Its Investment Fund Laws

Clients should be aware of the entry into force of a new law on 28 July updating certain elements of the Luxembourg investment fund toolbox. In this briefing, partner Anne-Gaëlle Delabye, counsel Philippe Burgener, managing associate Milan Hauber, senior associate Anne-Sophie Lliteras and associate Caroline Lecomte summarise the main changes.

On a general note, the objective of the new law is to modernise the various Luxembourg product laws in light of the recent and upcoming changes in the European Union law and especially in the context of the democratisation of assets. The proposed amendments aim at increasing the competitiveness of the Luxembourg financial centre. The new law showcases the reactivity of the Luxembourg legislator, who has taken up the various impulses from the Luxembourg fund industry by proposing amendments in order to increase structuring opportunities for fund managers, and ease access to their products for non-professional investors.