The Specialised Investment Fund

LUX_VEHICLES_specialist_investment_fund

  1. Introduction
  2. Eligible Investors
  3. Legal form
  4. Authorization and supervision
  5. Capital requirement
  6. Investment policy
  7. Legal and regulatory framework
  8. Custodian bank
  9. Central administration
  10. Offering document and annual report
  11. Issuing new shares
  12. Dividends distribution
  13. Net asset valuation
  14. Compartments
  15. Tax regime
  16. Double tax Treaties / European Directive
  17. VAT
  1. Introduction

The Specialised Investment Fund (SIF) has been introduced by the law of 13 February 2007 as amended by

The SIF may at a glance, look like a SICAR but presents fundamental differences with this latter.

The SIF does not constitute a new legal form of company but rather a new legal and tax framework adapted on existing legal forms. Unlike the SICAR, a SIF is obliged to a certain risk diversification. The tax regime also distinguishes the SIF from the SICAR,

The exclusive object of the SIF is the collective investment of their funds in assets in order to seek a certain risk diversification and to make investors benefitting from the results of the management of their assets.

  1. Eligible Investors

Investing in a SIF is reserved to sophisticated investors know as “Well Informed Investors”. Well informed investors are

  1. Legal form
  1. Authorization and supervision
  1. Capital requirement

The subscribed capital of the SICAV, increased by share premium if any, may not be less than EUR 1,250,000. This minimum must be reached within a period of twelve months following the authorization of the SICAV/F.

  1. Investment policy
  1. Legal and regulatory framework
  1. Custodian bank
  1. Central administration
  1. Offering document and annual report
  1. Issuing new shares
  1. Dividends distribution
  1. Net asset valuation
  1. Compartments
  1. Tax regime
  1. Double tax Treaties / European Directive
  1. VAT