Luxembourg Investment Vehicle Overview
What are the key differences between UCITS and AIFS?
A very quick overview
EU cross-
distribution
thanks to the
UCITS Product
Passport
UCITS
Fits for retail investors with small
investments
• Investments are only possible in "safe"
and liquid assets (e.g. shares, debt,
bonds)
Many investment restrictions are in
place to prevent you from putting all
your eggs in one basket
Generally low performance
⚫ Listed UCITS that replicate a specific
benchmark are called exchange-
traded funds (ETFs)
AIFS
• Fits for investors with higher
investments (e.g. institutional
investors)
• ALL investment types are possible
(e.g. private equity, real estate,
infrastructure, aircraft and any other
investment that is ineligible for
UCITS)
• Lower investment restrictions,
since the target investors need less
protection than a retail client (like
your grandma)
Higher performance but riskier
EU cross-border
distribution
thanks to the
AIFMD Product
PassportView entire presentation