A new specialized investment fund (SIF) regime was enacted by the Law of 13 February 2007 (the Law). Details of the Law, which replaces the Law of 1991 on undertakings for collective investments (UCIs) and amends the Law of 20 December 2002 on UCIs, are summarized below. (a) Establishment and legal form of a SIF. A SIF may be established in a legal form available under Luxembourg law and must have a minimum capitalization (share capital and premium) of at least EUR 1,250,000, paid-up within a period of 1 year of its establishment. A SIF must publish an audited annual...