"We all want flexible but regulated vehicles," said Jacques Elvinger of the Luxembourg law firm Elvinger, Hoss & Prussen.The new Specialized Investment Funds Law – which is dedicated to ‘informed investors' and targets institutional investors – proposes significant advantages (larger investor's eligibility – including private individuals under specific conditions – unlimited range of eligible assets, possible investment in any type of securities, ‘lighter' authorisation formalities and requirements on information and reporting).

The second new investment structure – the Family Private Assets Management Company – represents an alternative to the 1929 Holding Company scheme. Dedicated to private investors and individuals, it benefits from a preferential tax regime. However, the shareholding structure is strictly restricted to a limited circle of private investors. Among the major fiscal advantages, the new regime will be tax-exempted on corporate income, communal, commercial or wealth taxes (double-tax treaty is excluded). "Luxembourg has shown once more that it was able to extend the range of its investment structures and to respond in a quick way to the financial industry's requests. I personally believe in the success of these two new vehicles," the lawyer concluded.