Introduction
The specialised investment fund
("SIF(s)") was first introduced by the
Law of 13 February 2007 ("SIF
Law")1 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 and
professional investors but also other types of well-informed
investors, such as sophisticated private investors meeting certain
conditions.
The SIF regime was amended among others by the Law of 12 July
2013 on alternative investment fund managers ("AIFM
Law") which transposes the AIFMD2 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.
The SIF regime was also amended by the Law of 21 July 2023,
