About Us

Who We Are

Marathon SICAV-SIF was established and domiciled in 2008 in Luxembourg as an umbrella Fund, authorized and supervised under the Luxembourg law of 13 February 2007 related to Specialized Investment Funds, and as amended henceforth.

Marathon SICAV-SIF is an investment fund vehicle incorporated as an open-ended investment company (Société d’Investissement à Capital Variable) and set up as a Public Limited Company (Société Anonyme), regulated by the CSSF (Commission de Surveillance du Secteur Financier), the capital markets regulator of Luxembourg.

It was designed to take advantage of the highly regarded operational, regulatory and tax regimes governing institutional collective investments in Luxembourg.

The fund qualifies as an Alternative Investment Fund (AIF) under the meaning of the Luxembourg law of 12 July 2013 related to Alternative Investment Fund Manager (AIFM).

AIFs are allowed a higher degree of flexibility and subject to lower investment restrictions compared to traditional mutual funds, regarding their exposure in long or short positions per security and asset class, the ability to leverage funds under management and to use derivatives for directional investment positions, as well as, for risk hedging purposes. All asset classes are “acceptable”, alternative or not, with or without leverage. A minimum diversification and spreading risk rules apply as no more that 30% of the fund’s assets under management can be invested in a one single security.

AIFs are addressed to “qualified” and/or “well-informed investors”, who have the proven knowledge and experience to understand these types of investments and assess their associated risks. Eligible investors include:

Institutional and Professional investors
Any other investors declaring in writing (in the subscription application) that he is aware of the involved investment risks, and, either invests a minimum of €125,000, or providing, an appraisal from a bank or a management company certifying its ability to adequately evaluate the investment and risk

The aim is to achieve enduring superior risk-adjusted returns by investing in a global selected basket of listed securities.

Company Organization

The Fund is internally self-managed by Its Board of Directors. The Directors have therefore the overall responsibility for the Fund’s activities, including the review of its investment activity and performance. They have the primary responsibility for determining and implementing the fund’s overall investment objectives, strategy and policy.

Noema Advisory AG, a Swiss registered investment research specialist, has been appointed as the investment advisor to the fund to assist the Board of Directors in its investment task.

The Aa2/AA+ rated, state-owned, Banque et Caisse d’Épargne de l’État acts as Depository and Central Administrator for the Fund. Applying Arm’s Length principles, Transfer Agent and Registrar and Bookkeeping duties are assigned by the Depositary to the specialist Luxembourg Agent, European Fund Administration. Arendt & Medernach S.A. have been the Legal Advisors to the Fund since 2008. Similarly, PricewaterhouseCoopers S.à r.l. performed the required Statutory Audit duties since the Fund’s inception.

Legal Framework

Law of 13 February 2007 relating to specialized investment funds. The 2007 Law supersedes the 1991 Law on institutional UCIs

CSSF Circular n° 07/283: Entry into force of the law of 13 February 2007 relating to specialized investment funds

CSSF Circular n° 07/309: Risk-spreading in the context of specialized investment funds

CSSF Circular n° 07/310: Financial information to be produced by specialized investment funds

CSSF Circular n° 08/372: Guidelines for depositaries of SIFs adopting alternative investment strategies, where those funds use the service of a prime broker

SIF Legislation: Consolidated version of the SIF Law dated 26 March 2012

Law of 12 July 2013 relating to Alternative Investment Fund Managers