Topic

Funds

Analysis of how investment funds are structured, governed and supervised in practice. This section looks at where risk really sits in a fund's architecture, from the pressure that private credit stress places on redemption decisions and semi-liquid structures, to the role of the Responsable du respect des obligations and whether AML/CFT oversight works best with one person or with the whole board. The focus is on practical consequences for boards, management companies and the people who run fund operations day to day.

Funds

Luxembourg Funds & AML - September 2026 Monthly Brief

September did not bring major changes to the Luxembourg fund framework, but several developments deserve attention from AIFMs, Conducting Officers, Compliance Officers and other fund professionals. The main topics were the notification of redemption suspensions, new rules on sustainability claims, Luxembourg’s first risk assessment on financial sanctions, and new cyber security alerts.

30 September 2026 By Diego Ofano

Funds

Private Credit stress and Luxembourg funds: what should be done now

The private credit market is starting to show signs of stress and Luxembourg is more exposed than it might seem at first sight. Surely, the problem does not start in Luxembourg. The loans are not made to companies in Luxembourg, and many of the investment managers are not based there either. In reality, the economic risk sits elsewhere.

21 April 2026 By Diego Ofano

Funds

Responsable du respect des obligations (RR): considerations on the current framework, weaknesses and potential future changes

Is the role of the Responsable du respect des obligations (RR) truly effective in its day-to-day execution within the existing framework? Should the RR function be assigned to a sole individual or collectively to the Board members? This article analyzes the current structure of the Board on Investment Funds in Luxembourg, understanding how the RR function is currently managed, where the board individually or collectively holds the function of RR, identifies its inherent weaknesses, and explores potential future developments.

7 February 2024 By Diego Ofano