On 12 February 2025, the Commission de Surveillance du Secteur Financier (CSSF) introduced a streamlined and more efficient procedure for the creation of new share classes in investment funds, thereby eliminating the need for a prospectus update.
The simplified procedure applies to various fund types, including UCITS, UCI Part II, Specialised Investment Funds (SIFs), and Investment Companies in Risk Capital (SICARs). Importantly, in order to make use of the new procedure, the characteristics of the new share classes must already be defined in the current version of the fund's prospectus.
To proceed, submissions must follow certain principles specified by the CSSF in their dedicated form, here, as well as include all relevant details of the share classes in a standardised table provided in this form.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
