The Association of the Luxembourg Fund Industry says that Luxembourg is prepared for the new regime that comes into force today with the regulation of European Long-Term Investment Funds (ELTIFs).
ALFI notes that ELTIFs are a pan-European regime for Alternative Investment Funds (AIF). They are designed to channel the capital they raise into European long-term investments in the real economy in order to achieve growth and create jobs. In certain circumstances their pan-European marketing passport allows them to be sold to individual investors who may not necessarily be classified as professional or sophisticated.
Says Denise Voss, chairwoman of ALFI: “Take-up of the new funds may be a gradual process, but we believe that Luxembourg has the in-depth experience and expertise required to support fund promoters wishing to launch ELTIFs, and we are ready to assist them.”
“To articulate the essential role of investment funds for the global economy is an important part of the ALFI 2020 Ambition. Luxembourg has practical solutions for ELTIFs, the Luxembourg legal framework offering a wide range of solutions to fulfil the needs of ELTIFs, their managers and investors.”