Luxembourg is a leading investment fund centre attracting investors from all over the world. This book is the first analysis in English of the legal regime governing collective investments in this important financial centre. The work covers the relevant EU Directives, such as the UCITS Directive, Prospectus Directive, MiFID and the Savings Directive, and considers the application of those Directives under Luxembourg law. Beginning with a definition of undertakings of collective investment funds and a description of the background to the relevant legislation, the authors then consider in detail how undertakings for collective investments are classified and how they operate in practice. As a comprehensive and systematic account, this book will be of great interest and practical use to practitioners and investment managers who regularly deal with Luxembourg investment funds, in addition to those needing an introductory guide to this area of law.