Alternative Investment Fund Managers – Luxembourg’s Attractive Features on Substance and Delegation

On 24 August 2012, Minister of Finance Luc Frieden filed with Parliament Government Bill N° 6471 (“Bill”) on Alternative Investment Fund Managers, transposing Directive 2011/61/EU (“AIFM Directive”), that was expected to pass into legislature in December 2012. On 4 March 2013, the Chamber of Commerce of Luxembourg approved the terms of the Bill and it is expected that the Bill will be enacted into law shortly, which would make Luxembourg the first mover to implement the Alternative Investment Fund Directive.