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By Frank van KUIJK, Funds Partner Dr. Michael DAEMGEN, Regulatory Partner, Loyens Loeff
The recent transposition of the delegation requirements under AIFMD II and UCITS VI into Luxembourg law has once again brought a familiar issue into sharper focus: the role of external support in portfolio management. The legislative changes themselves are measured. They refine reporting, broaden transparency and reinforce oversight expectations, but they do not fundamentally disturb Luxembourg’s long-established model. What they do underscore, however, is that delegation structures must be robustly governed, carefully documented and capable of withstanding regulatory scrutiny.
More importantly, they invite a return to a deeper and more...
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