Investment Education PLC
http://www.investmenteducation.net/course.php?courseId=k5xmly26j0t4794h5dfs

Introduction to Luxembourg Collective Investments
Last Updated - 7 August 2008
Todays Date -
Return to CoursePrint course
Duration 1 day
Available as an in-house course

Objective

To provide a complete comprehensive understanding of the types, structures and parties involved in a Luxembourg mutual fund or UCI (Undertaking for Collective Investment), Practical issues and developments will also be included.

This is a basic course that reviews all the essentials and brings in current issues.


Delegates

  • Administrators, employees and supervisors of funds with limited experience
  • New entrants to the Funds Industry
  • Lawyers
  • Bankers with limited or no knowledge of Luxembourg Collective Investments
  • Custodians
  • Accountants & Auditors


    Content

    I. Legal Context

    A. European Context
    B. The Luxembourg Regulations:
    1. The law of 30 March 1988 - Part I
    2. The law of 30 March 1988 - Part II
    3. The law of 30 March 1988 - Parts III and IV
    4. The law of 19 July 1991
    5. The IML Circular of 21 January 1991
    6. References to the law of 10 August 1915

    II. Different Types of Luxembourg UCI

    A. The "FCP" - Collective investment fund
    B. The "SICAV" - Investment company with variable capital.
    C. The "SICAF" - Fixed capital investment company

    III. The Various Actors in a UCI Structure

    A. The management company and the board of directors
    B. The depositary and the paying agent
    C. The central administration
    D. The registrar and transfer agent
    E. The listing agent
    F. The investment manager and investment adviser
    G. The auditor and the legal adviser

    IV. The Supervisory Authority

    V. Practical Issues with regard to the implementation of a UCI

    A. Compatibility between services rendered and needs of the UCI
    B. Account opening
    C. Tax considerations
    D. Formation expenses
    E. Marketing and distribution
    F. Clearstream - Euroclear

    VI. Developments

    A. Pooling - Cloning
    B. Simplification of the information to investors
    C. Internet