This brochure focuses on the Reserved Alternative Investment Fund (RAIF), a flexible alternative investment vehicle approved by the Law of 23 July 2016, which entered into force on 31 August 2016 (the RAIF Law).
The RAIF Law creates a new type of unregulated fund which has many of the features of the regulated specialised investment fund (SIF) or the investment company in risk capital (SICAR), but which is not subject to supervision of the Luxembourg supervisory authority, the Commission de Surveillance du Secteur Financier (CSSF).
The attractiveness of this new type of structures lies in its unregulated nature as it gives the possibility to any promoter to benefit from a flexible product in a timely manner while at the same time benefitting from the fact that it is managed by a fully authorised and supervised alternative investment fund manager.
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