Undertakings for Collective Investments
- Investment fund which does not qualify for the European distribution passport.
- Subject to the supervision of the Luxembourg regulatory authority (CSSF).
- Contractual form (Fonds Commun de Placement, FCP) or corporate form (Société d’Investissement à Capital Variable, SICAV or Société d’Investissement à Capital Fixe, SICAF). Possibility to have separate sub-funds under one umbrella fund. Possibility to set-up various classes of shares.
- Investment in a broad range of assets, including hedge funds, real estate, etc... Borrowing restrictions apply.
- Net Asset Value publication on a monthly basis. Audited annual report and unaudited semi-annual report required.
- Subscription tax at a rate of 0.05% of nets assets, reduced to 0.01% for instructional investors and money market funds.