The law of 12 July 2013 on alternative investment fund managers (the “AIFM Law”) defines the alternative investment fund (“AIF”). An AIF is simply a collective investment undertaking (including investment compartments), which:

1. raises capital from a number of investors with a view to investing it in accordance to a defined investment policy for the benefit of those investors; and 

2. does not require authorisation pursuant to the Directive 2009/65/EC relating to undertakings for collective investment in transferable securities (“UCITS”) (the “UCITS Directive”).

References: articles 1(39) of the AIFM Law and 5 of the UCITS Directive; Determination of the AIFM, August 27, 2020, Bertrand Mariaux.

*Podcast #269:

*YouTube Video 258|: 

Bertrand Mariaux, Avocat à la Cour, LL.M. (hons.)

Prestation de serment (Swearing-in oath): Luxembourg (2011), Certificat d’Aptitude à la Profession d’Avocat, École de Formation professionnelle des Barreaux de la Cour d’appel de Paris (2009), Bond University (LL.M. (distinct.), International Legal Practice, 2010), Université Sorbonne Paris Nord & University of Limerick (Master in European & International Law - major in economics, 2008), certified Expert in Microfinance (Frankfurt School of Finance & Management, 2015), social entrepreneurship (University of Oxford, 2015 & The Wharton School of Social Policy & Practice, 2014) and social & solidarity economy (International Labour Organization Academy - Social & Solidarity Economy, Organisation Internationale du Travail - Économie Sociale et Solidaire, 2017)