Luxembourg Investment Vehicles

Legal and regulatory requirements UCITS ("Part I Fund") Entity Type SICAV (SA) SICAF (SA, SCA) FCP All three must be open-ended. Segregated sub-funds Yes. Cross sub-funds investment Yes, with restrictions. Master - Feeder Yes. Regulated Investment Vehicles Part II Fund with authorised AIFM SICAV (SA) SICAF (SA, SCA, Sàrl, SCS, SCSp) SIF with authorised AIFM SICAR with authorised AIFM SICAV/SICAF (SA, SCA, Sàrl, SCOSA, SCS, SCSP) Corporate entity with fixed or variable share capital (SA, SCA, Sàrl, SCOSA, SCS, SCSp) FCP FCP Structures may be open or closed-ended. Structures may be open or closed-ended. Yes. Yes, with restrictions. Yes. Yes. Yes, with restrictions. Yes. Structures may be open or closed-ended. Yes. No. Yes. Subject to specific rules (Fund law and CSSF Regulation 10-5). Central administration Central administration established in Luxembourg; or central administration may be performed in another EU Member State for funds managed by UCITS Management Company established in another EU Member State. Required service providers in Luxembourg Depositary eligible under UCITS directive. Réviseur d'entreprises agréé. Central administration established in Luxembourg. Central administration established in Luxembourg. Central administration established in Luxembourg. Depositary - eligible entity under AIFM law. Réviseur d'entreprises agréé. Depositary - eligible entity under AIFM law. Réviseur d'entreprises agréé. Depositary - eligible entity under AIFM law. Réviseur d'entreprises agréé. 14 KPMG Luxembourg Investment Vehicles

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