Luxembourg lists first reserved alternative investment fund

The Luxembourg Stock Exchange (LuxSE) has listed the first ever reserved alternative investment fund (RAIF).

The RAIF is managed by Finexis and has been listed on the Euro MTF market.

The Finexis Equity Fund lists two sub-funds: renewable energy and multi-asset strategy.

The first sub-fund focuses on energy investments, in particular green energy investments and the related infrastructure, whilst the multi-asset strategy sub-fund may contained derivative contracts.

RAIFs combine features and structures of specialised investment funds (SIFs) and investment companies in risk capital (Sicars) qualifying as alternative investment funds (AIFs).

RAIFs are not subject to regulatory approval from the Commission de Surveillance du Secteur Financier (CSSF).

More than 100 RAIFs have been created since the law providing a legal framework to develop this sort of vehicles was passed in July 2016.

Alex Picco, head of Listings at LuxSE, said: “The listing of the first RAIF is an important step as it accommodates the needs of the fund industry in getting more visibility and increased time-to-market of alternative funds. With this new development Luxembourg, the world’s second largest investment fund centre, has further improved its attractiveness as a domicile for the establishment of alternative vehicles.”

Maciej Waloszyk, managing director responsible for business development at Finexis, said: “We are proud to be the first management company to list a RAIF on LuxSE. We are an SME acting on a very competitive market composed of many major industry players. Not only were we the first to list such product in Luxembourg, but we have also set the market standard and procedures required for the listing of a completely new type of an investment fund.”

ABOUT THE AUTHOR
Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

Read more from Adrien Paredes-Vanheule

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