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A Grand Ducal Regulation of 14 July 2010, that has been officially published in the Mémorial A on 30 July 2010, determines the conditions and criteria for the exemption of the subscription tax for “Undertakings for Collective Investments” (UCIs) and “Specialised Investment Funds” (SIFs) investing in Microfinance. The Grand Ducal Regulation foresees that the UCIs and SIFs which hold the LuxFLAG Microfinance Label will be automatically exempted. As of July 2010, a total of 9 MIVs representing 18 subfunds and around USD 2.24 billion of Assets Under Management (AUM) now carry the LuxFLAG Microfinance Label. In order to obtain a LuxFLAG Microfinance Label a fund must comply with a set of criteria (available on www.luxflag.org). The application is reviewed by an Eligibility Committee that...
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