In addition to being a founding member of the European Union, Luxembourg was also the first EU state to implement the original UCITS directive (85/611) into its domestic law in 1988. It also created a series of domestic regulations to attract institutional investors and to classify a broader range of asset classes as eligible investments.
The Law of 12 July 2013 on Alternative Investment Fund Managers (“AIFM Law”), which implements the AIFMD into Luxembourg law, also introduces a number of innovations which are designed to improve the legal and regulatory framework applicable to Luxembourg alternative investment funds and fund managers.
Ideally situated at the heart of Europe and benefiting from a skilled multicultural and multilingual workforce, Luxembourg is the leading centre for the cross-border distribution of investment funds. Asset managers from all over the world use Luxembourg as a gateway for capturing unmanaged assets and a future generation of investors. Luxembourg is at the forefront of the future of the asset management and asset servicing industry.
Luxembourg in a nutshell