Examples of AIFM Law in a sentence
The Luxembourg AIFM Law provides that “securitisation special purpose entities” are in principle excluded from the scope of the Luxembourg AIFM Law.
However, the definitions of a “securitisation special purpose entities” under the Luxembourg AIFM Law and “securitisation undertaking” under the Securitisation Law differ.
Thus, an undertaking falling within the definition of “securitisation special purpose entities (structures de titrisation ad hoc) of the AIFM Law, meaning an entity whose sole object is to carry out one or more securitisation transactions within the meaning of ECB Regulation, will not constitute an AIF under the AIFM Law.
The Fund is an alternative investment fund within the meaning of Article 1 of the law of 12 July 2013 on alternative investment fund managers (the "AIFM Law") managed by Fuchs Asset Management, an alternative investment fund manager (the "External AIFM"), authorized by the Luxembourg Commission de Surveillance du Secteur Financier (the "CSSF").
They may, insofar as they meet the AIF criteria, constitute AIFs under the AIFM Law: • securitisation undertakings acting primarily as first lenders (i.e. undertakings that originate new loans) since there is no transfer of assets (and therefore no credit risk) by such an entity; • securitisation undertakings set up primarily to create or otherwise offer synthetic exposure to non- credit related assets, i.e. where the transfer of credit risk is only accessory to the principal activity of the entity.