Anatomy Of A Short Attack
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This site uses third party analytics cookies. Continuing the navigation over the following prime broker erklarung or closing the same is expressed consent to their use. The Specialised Investment Fund SIF is a regulated, operationally flexible and fiscally efficient multipurpose investment fund regime for an international, institutional and qualified investor base.
In comparison with institutional funds created under Part II of the Law of 17 December on undertakings for collective investment, the SIF is characterised prime broker erklarung greater flexibility with regard to the investment policy and a more relaxed regulatory regime. As a result, the SIF Law is now divided into two parts: The Luxembourg regulator has issued several circulars concerning SIFs. Click here to access the website of the CSSF.
SIFs are subject to the principle of risk-spreading. Other legal forms are possible. These different entities may be set up as a single fund or as an umbrella fund consisting of multiple compartmentseach with a different investment policy. The fund and compartments respectively may have an unlimited number of share classes, depending on the needs of the investors to whom the fund is distributed. This minimum must be reached within a period of twelve months following its authorisation.
SIFs must have appropriate risk management systems in place to identify, measure, manage and monitor the risks associated with prime broker erklarung positions and their contribution to the prime broker erklarung risk profile of the portfolio. Moreover, SIFs are required to establish a conflict of interest policy. The authorisation will be granted subject to approval of:.
They may either appoint an prime broker erklarung AIFM or choose being internally managed. Certain money market and pension funds or SIFs investing in other funds which are already subject to subscription tax are exempt from subscription tax. The same applies to microfinance investment funds. SIFs constituted in the form of an investment company may benefit from a large number of double tax treaties concluded by Luxembourg.
A common fund has no legal personality and thus must be managed by a prime broker erklarung company. The individuals who effectively conduct the business of a management company must be of good repute and be sufficiently experienced in relation to the prime broker erklarung of SIF to be managed.
The management company must have an initial capital of at least EURLuxembourg SIFs must appoint a depositary which is responsible for both the safekeeping of assets and the supervision of the fund and, if applicable, its management company. The individuals who represent the depositary bank must be of good repute and have sufficient and relevant experience. The physical safekeeping can be entrusted to local sub-depositories. The fund SICAV or its management company FCP prepares an annual report which is to be audited by a Luxembourg statutory auditor with appropriate professional experience.
There is no obligation to produce a semi-annual report. Continue This site uses third party analytics cookies.