The Luxembourg Parliament adopted Bill 8183 on 11 July which paves the way for a refreshed legal framework for Luxembourg's investment funds, and a domicile boost to take advantage of the proposed European Long term Investment Fund (ELTIF) regime.
Shaped in part by a growing demand for access to alternative investments by retail investors, Luxembourg's revised investment funds toolbox brings greater flexibility for asset managers and greater alignment with European Standards, Linklaters said in a reaction statement on 12 July.
Commenting on the boost that this announcement gives to ELTIFs, Silke Bernard, global head of investment funds at Linklaters, said: "The exemption of all Luxembourg ELTIFs from subscription tax is excellent news.
"This, together with some other amendments under the new rulebook - such as the possibility to structure Part II ELTIFs as SCAs or SCSps - will make the Luxembourg ELTIF framework even more attractive.
"I am confident that Luxembourg will maintain its position as a clear "go to" domicile for ELTIFs."
