Responding to the AIFM Directive

The Luxembourg Specialized Investment Fund

A practical guide – March 2012

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The SIF is being used extensively to launch all types of AIF products. The Alternative Investment Fund Managers (AIFM) Directive will further boost its use significantly over the coming years.

The SIF will offer the alternative investment groups:

  • A well-established, flexible, regulated investment fund vehicle adapted to any type of investment fund strategy
  • Access to all the advantages of Luxembourg, including its position as the world’s leading cross-border distribution hub
  • AIFM Directive-compliant products:
    • Access to the “AIF brand”, reflecting the success of the UCITS brand, a truly international product whose reputation is renowned on a global basis
    • A passport to distribute to investors across the EU
  • Non- AIFM Directive-compliant products:
    • Medium-sized self-managed AIFs, outside the scope of the AIFM Directive
    • AIFs of smaller managers which benefit from AIFM Directive exemptions

The purpose of this practical guide is to provide, in a clear and concise format, an overview of the SIF regime and how it fits within the AIFM Directive.