Under the German AIFM implementation law of the KAGB a AIF is a closed-ended fund if no redemption right is granted on a yearly basis. ESMA now states in its draft that every redemption right makes a fund an open-ended ... (more)
Luxembourg seeks to compete against London for private equity: Luxembourg is an international leader as a center for UCIT funds. With its implementation of the AIFMD, the Grand Duchy of Luxembourg is also striving to become a leader for alternatives ... (more)
The German insurance supervisory authority published two guidance papers on Ocober 22 and 23, 2013. The first guidance paper allows for an increase of forward purchases in fixed income instruments. The second one modifies and amends the guidance on use of ... (more)