Wildgen

CSSF updates FAQs on AIFM Law

By Beverley Wachs and Mevlüde-Aysun Tokbag

The Commission de Surveillance du Secteur Financier (CSSF) issued on 20 February 2014 an updated version of the frequently asked questions (FAQs) relating to the Luxembourg Law of 12 July 2013 on alternative investment fund managers (AIFM).

The update concerns the valuation of AIFs’ assets, in particular when it is performed by an external valuer. Pursuant to article 17(4)(a) of the AIFM law, an external valuer ‘must be a legal person independent from the AIF, the AIFM and any other persons with close links to the AIF or the AIFM’. The external valuer could therefore be (i) the depositary, (ii) the administrative agent or (iii) any other third party that fulfils this independent condition…

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