SELECTRA is your partner in the development and management of:
UCITS Funds are open-ended investment schemes according to the EU Directive 2009/65/CE. UCITS funds can be set up as an investment company (SICAV) or as a contractual form of investment funds (FCP). They can be distributed within the EU and subscribed by all kind of investors (retail, qualified and institutional).
The Specialised Investment Fund (SIF), is a regulated investment vehicle designed for institutional and qualified investors, that provides flexibility in the form of organisation, investment policy and assets class in which it can invest. The SIF is characterized by great flexibility as it concerns the investment policy (alternative strategies, private equity, infrastructure, real estate, tangible assets) and the assets’ diversification.
The Investment Company in Risk Capital (Société d’investissement en Capital à Risque – SICAR) is a regulated, fiscally efficient structure designed for private equity and venture capital investments. Its main aim is to provide assets to institutions, whether in a direct or indirect way, in order to promote their start, enlargement or exchange listing. There are no investment diversification rules, nor lending or leverage restrictions despite the fact that only qualified institutional investors can invest in a SICAV.
Thanks to the European AIFM Directive, both SIF and SICAR can be distributed in each Country of the EU.
The Luxembourg parliament passed on July 10th, 2013 the draft law aiming to enact the Alternative Investment Fund Managers Directive (AIFMD) into national law. In line with the AIFM Directive, the law lays down the rules applicable to the authorization, the scope of activities and the transparency requirements relating to Luxembourg alternative investment fund managers (AIFMs) managing and/or marketing alternative investment fund (AIFs). The main object of the Luxembourg’s Law is to regulate AIFMs and not directly AIFs.
RAIF – Reserved Alternative Investment Fund, is a new category of investment vehicle dedicated to alternative investment funds introduced by Luxembourg government with the Law of 23 July 2016.