INTRODUCTION
The specialised investment fund
("SIF") was first introduced by the Law
of 13 February 2007 and has since enjoyed great success. The SIF
offers a regulated label whilst maintaining flexibility in terms of
investment scope and structuring and also benefits from an
attractive tax regime. The scope of eligible investors includes not
only institutional investors but also other types of well-informed
investors, such as sophisticated private investors.
The SIF regime was amended by the Law of 12 July 2013 on
Alternative Investment Fund Managers ("AIFM
Law") which transposes the AIFMD1 into
Luxembourg law. Although the AIFM Law mainly regulates alternative
investment fund managers ("AIFM(s)"), it
also contains various provisions that apply to alternative
investment funds ("AIF(s)"), for which
SIFs may qualify.
