Luxembourg
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Blessed with the Law of 17 December 2010, a highly complicated piece of funds legislation which encompasses not only UCITS and AIFMD compliant funds but other retail funds which are good for sale into Luxembourg but cannot be passported around the EU. It was amended under the famous — well, famous among patrons of those achingly hip salons lining the Avenue John F Kennedy, at any rate — “Omnibus” law of 27 February 2018, which did some work to bring the local fund varieties (the so-called “Part II” funds) into sync with AIFMD and UCITS.
There is a good Linklaters article here.