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By Dr. Marcel BARTNIK, Partner – Avocat à la Cour, Dupont Partners
Just before the end of last year, the Luxembourg regulator CSSF favoured the investment funds industry with a particular Christmas present by issuing a new circular (25/901)(1) that summarises its administrative practice for all those alternative investment funds (AIF) that are under its direct supervision: specialised investment funds (SIF), investment companies in risk capital (SICAR) and retail funds subject to part II of the law dated 17 December 2010.
So far, the rules for these products were spread out over a number of different circulars,...
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