Fund accounting in Luxembourg, Lux GAAP, IFRS and investor reporting.
Fund accounting covers the bookkeeping of the vehicle and its SPVs, the calculation of net asset value and investor reporting. FSL handles it in Lux GAAP or IFRS, alongside your AIFM, depositary and auditor. FSL handles structuring, substance, accounting and reporting; CSSF authorisation and reserved acts are coordinated with our network of partner lawyers and notaries.
Fund accounting is the maintenance of the accounts of a Luxembourg investment vehicle and its holding structures, leading to net asset value (NAV) calculation and investor reporting, under Lux GAAP or IFRS.
Lux GAAP (law of 19 December 2002) or IFRS frameworks; reporting obligations under the vehicle's law (RAIF 23.07.2016, SIF 13.02.2007, SICAR 15.06.2004) and CSSF circulars, including Circular 25/901 of 19 December 2025.
Key takeaway
- Lux GAAP or IFRS depending on your investors and AIFM.
- NAV, capital accounts and carried interest produced on the fund's schedule.
- FSL coordinates with the AIFM, depositary and auditor; reserved acts stay with partners.
Who this is for
- PE, VC, private debt and real estate funds
- AIFMs and management companies outsourcing accounting
- RAIF, SIF, SICAR sponsors
- Holdings and SPVs of a two-tier fund structure
What we do
- Fund and SPV bookkeeping (Lux GAAP, IFRS)
- NAV calculation and reconciliations
- Capital accounts, waterfall, carried interest
- Investor reporting and audit packs
- Annual accounts preparation and filings
Estimated timelines
Pricing indication
Indicative ranges, excluding disbursements and taxes. Firm quote after scoping.
Ready to structure your fund accounting?
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Preparation checklist
Get the list of documents and steps to start without friction.
The process, step by step
Scoping
Vehicle review, accounting framework, NAV frequency and parties (AIFM, depositary, auditor).
Set-up
Chart of accounts, position takeover, capital accounts and waterfall configuration.
Production
Ongoing bookkeeping, NAV calculation, investor and regulatory reporting on schedule.
Close & audit
Annual accounts, audit packs, coordination with the auditor and filings.
Frequently asked questions
Do you work in Lux GAAP or IFRS?
Do you calculate the NAV?
Do you handle waterfall and carried interest?
Are you the fund's auditor?
Request a quote
Reply within 24 business hours. NDA from first contact.