Luxembourg Regulated Investment Vehicles - Alfi

15SIF SICAR Securitization vehicle – regulatedAssets are to be valued at fair valueto be determined in compliance withthe rules detailed in the Articles orManagement Regulations.Audited annual report is requiredwithin 6 months of the year-end.No semi-annual report is required.If a closed-ended SIF is listed on anEU regulated market the deadlinesmay be shorter.Annual reportLux GAAP only, i.e. provisions of thelaw of 19 December 2002 except for :• The content and layout of theannual report.• The valuation of assets which isruled by articles 9, 28§4, 40§1 ofthe SIF law.Semi-annual reportNot requiredAssets are to be valued at fair value tobe determined in compliance with therules detailed in the Articles.Audited annual report is requiredwithin 6 months of the year-end.No semi-annual report is required.If the entity has securities listed onan EU regulated market the deadlinesmay be shorter.Annual reportLux GAAP only, i.e. provisions of thelaw of 19 December 2002 except forthe valuation of assets which is ruledby article 5§3 of the SICAR law.Semi-annual reportNot requiredSecuritization fundValuation of assets is made on thebasis of the realizable value estimatedin good faith unless providedfor differently in the Articles orManagement Regulations.Securitization companyValuation of assets is made at thelower of acquisition cost or marketvalue or at acquisition cost less anypermanent impairment considered bythe Board of Directors.Securitization fundSame requirements as for the FCP.Securitization companyAudited annual report is required atyear-end. It must be available 15 daysbefore the Annual General meetingof shareholders and filed with theRegistrar within 7 months of the yearend.No semi-annual report is required.If the entity has securities listed onan EU regulated market the deadlinesmay be shorter.Annual reportSecuritization fundLux GAAP only, i.e. provisions of thelaw of 19 December 2002 except for :• The content and layout of theannual report.• The valuation of assets which isruled by articles 9§3, 28§4, 40, 71,75§5 of the Fund law.Securitization companyLux GAAP only, i.e. provisions of thelaw of 19 December 2002.