The CSSF issued on 17 November 2022 a communication on the launch of a standardised prospectus template for UCITS (the “Standardised Model Prospectus“), to be used when applying for authorisation of a new UCITS.

The aim of the Standardised Model Prospectus is to facilitate the drafting of the fund’s issuing document for a proposed UCITS launch and enable the CSSF to carry out an easier examination of the application for authorisation.

The use of the Standardised Model Prospectus is intended for the constitution of any UCI which cumulatively meets the following four conditions:

  • a UCITS subject to Part I of the law of 17 December 2010 concerning undertakings for collective investment;
  • a UCITS to be constituted in the form of an investment company with variable capital (SICAV);
  • a UCITS to be managed by a management company domiciled in Luxembourg or by a management company domiciled in another EU Member State in accordance with the freedom to provide services on a cross-border basis; and
  • an umbrella UCITS of low to medium complexity.

The Standardised Prospectus Model should not be considered a regulatory requirement nor a guarantee for approval. Indeed, the Standardised Model Prospectus is intended to serve as guidance and good practice to reduce the overall processing time. Therefore, the approval process (i.e. the submission of the application, the exchange of comments and the approval decision) will not differ.

This document is made available with information of a general nature. It may need to be customised to fit the context, circumstances and specificities of a fund and/or sub-fund project.

Please feel free to contact our investment management team concerning the writing of the issuing document for your future UCITS.