Luxembourg first EU country to adopt UCITS IV

25 years after the first UCITS Directive, the Luxembourg parliament ratified UCITS IV. A significant number of new provisions will come into effect as of January 1, 2011. With this new law, Luxembourg expects a further boost in its Investment Fund industry. The country has been a pioneer in the development of the passporting of European investments funds and has great ambitions to replicate this success story with the AIFM Directive.