7.01 Luxembourg has gradually emerged as the EU’s main investment funds domicile, starting off as a retail fund centre as of 1988. The main investment fund legislation was introduced in 1988 when Directive 85/611/EC1 (the ‘UCITS I Directive’) was transposed into Luxembourg law.2 Luxembourg was the first European Member State to implement the UCITS I Directive into domestic law. 7.02 The transposition followed a particular pattern, which has since been replicated in other parts of the Luxembourg investment funds legislation. The Luxembourg implementing law of the...
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