Investment Funds in Luxembourg

From types of vehicles to regulations - everything you need to know

Investment Funds in Luxembourg is the definitive technical guide providing an introduction to Luxembourg as a center for investment funds, the types of fund vehicles available and a summary of the regulations applicable to the setting-up and operation of Luxembourg investment funds.
It also covers the regulations applicable to both traditional and alternative management companies, and the provisions applicable to other Luxembourg service providers.

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Investment Funds in Luxembourg 2026

The definitive guide for investment funds

Investment Funds In Luxembourg - latest full edition
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Withholding tax rates applicable to Luxembourg UCIs

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Short editions now available in German, French and Chinese

Get your copy of "Investment Funds in Luxembourg", available in different languages

The team

Madjid Boukhelifa

EY Luxembourg Partner, Wealth & Asset Management Sector Leader
Trusted audit partner with more than 16 years of experience. Team player passionate about supporting our clients.
Luxembourg, Luxembourg

Jens Schmidt

EY Luxembourg Partner, Wealth and Asset Management Consulting Leader
Dedicated to embrace and manage change. Insightful adviser. Tech savvy. Passionate about achieving goals in teams.
Luxembourg, Luxembourg

Kerry Nichol

EY Luxembourg Wealth & Asset Management Partner
Provider of wealth and asset management services. Connecting clients to EY globally. Team player.
Luxembourg, Luxembourg

Jean-Marc Cremer

EY Luxembourg Wealth and Asset Management Partner
Independent auditor of wealth and asset management clients. Having strong knowledge of the investment fund industry and Luxembourg regulations. Passionate about gardening. Father of two boys.
Luxembourg, Luxembourg

List of updates:

Fund strategies, products and investment rules

  • Investment strategy terminology aligned with the CSSF compilation of terms
  • Further clarifications regarding ETFs
  • Additional guidance on ELTIFs and the UK CCI
  • European Commission FAQ on the Money Market Fund Regulation (liquidity aspects) 
  • CSSF Circular 25/901

AIFMD II and UCITS VI

  • Services provided to third parties
  • Liquidity management requirements
  • Updated regulatory reporting requirements
  • CSSF clarification on cross-border (de-)notifications for UCITS management companies and authorized AIFMs

Sustainable finance

  • SFDR 2.0
  • ESG Simplification Omnibus

Tax and structuring developments

  • Draft Law No. 8761 on securitization
  • FASTER
  • Carried interest reform

AML, digital finance, market conduct and others

  • AMLA developments
  • Updated market abuse rules
  • Updates to CSSF Circular 22/811
  • CSSF supervisory expectations on the valuation of less liquid and illiquid assets by IFMs
  • Market Integration and Supervision Package
  • Further clarification on crypto-assets and virtual assets
  • AI Act developments

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