What are the advantages of umbrella funds in Luxembourg?

The umbrella fund (or multiple compartments fund) is available for a wide range of vehicles that can be registered in Luxembourg, such as RAIFs, FCPs, SICAVs or SICARs. The umbrella fund defines that, under asingle legal entity set up for a fund, the investors will be able to register more compartments that can act as independent structures, with different investment strategies and different distribution markets.

For example, the umbrella fund is available for SIF structures as well, and, in specific conditions, a compartment of the fund can invest in other compartments of the same vehicle. Another advantage is that the compartments can be set up as open-ended or closed-ended and they may issue an unlimited number of classes of shares.
In the case of a SICAR umbrella fund, it is also important to know that, regardless of the number of compartments set up within a fund and regardless of the investment strategy, the umbrella funds have to fall under the same tax regime and more details on this matter can be provided by our financial representatives.
One of the main benefits of investing through an umbrella fund is given by the fact that the vehicle’s costs can be reduced. For example, the investors are allowed to relocate assets from a compartment to another, which will offer better tax advantages if the funds belong to the same vehicle.

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