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On 10 July 2013, the Luxembourg Parliament adopted the law transposing the Alternative Investment Fund Manager Directive (AIFMD) into Luxembourg law. Marc Saluzzi, Chairman of ALFI, comments: “With the legislative process now complete, the regulated alternative investment fund industry in Luxembourg is ready to take off.” He continued: “AIFMD pushed the alternative fund management industry towards a model which is based on the compromise of more regulation in exchange for a passport. This is the same as the UCITS model which we know so well in Luxembourg, and, combined with the fact that we already have a well-established ‘alternatives’ industry, the lawputs the Luxembourg financial centre in a strong competitive position to develop our hedge, real estate and private equity activities...
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