The assets of a reserved alternative investment fund (RAIF) must be entrusted to a depositary for safekeeping of assets. The depositary must either have its registered office in Luxembourg or have a branch there if its registered office is in another Member State of the European Union. The depositary must be a credit institution or an investment firm. The depositary may also be an entity governed by Luxembourg law which has the status of a professional depositary of assets other than financial instruments.
References: Articles 5(1), (2), (3) §1 & §2 of the Law of 23 July 2016 on reserved alternative investment funds as amended and Article 26-1 of the amended Law of 5 April 1993 on the financial sector as amended; The Reserved Alternative Investment Fund - RAIF xviii, July 9, 2021, #384-373*, Bertrand Mariaux.
* Podcast #387
*YouTube Video 376|
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)
Contributor : Cédric Buisine, avocat