Asset Management & Investment Funds Publications - AIFMD


AIFMD - ESMA recommends extension of marketing passport
Directive 2011/ 61/EU on Alternative Investment Fund Managers (AIFMD) had to be implemented by EU Member States by 22 July 2013.

AIFMD - Twelve months on
The Alternative Investment Fund Managers Directive (Directive 2011/61/EU) (AIFMD) brought with it significant changes for the regulation of the funds industry in Europe and here we take a look at events since implementation twelve months on from the close of the transitional period, focusing on the AIFMD regime in Ireland.

AIFMD - Central Bank issues update on AIFMD Q&A
On 8 November 2013 the Central Bank of Ireland (the Central Bank) published an updated AIFMD Questions and Answers publication (AIFMD Q&A) which sets out answers to queries likely to arise in relation to the implementation of the AIFMD in Ireland.

AIFMD - Third Countries
The provisions of the AIFMD in respect of third countries are largely reliant on cooperation arrangements and procedures being in place between the relevant regulators.

AIFMD - Summary of Alternative Investment Fund Managers Directive
The AIFMD (Directive 2011/61/EU) must be implemented by EU member states by 22 July, 2013.

AIFMD - Valuation
Article 19 of AIFMD sets out the valuation requirements applicable to each AIFM and this is supplemented by section 7 of the AIFMD Regulation.

AIFMD - Delegation of Functions
Article 20 of the AIFMD provides that an AIFM can delegate tasks to third parties, which in turn can sub-delegate such tasks.

AIFMD - Remuneration Provisions
The European Securities and Markets Authority (ESMA) has published final Guidelines on remuneration of alternative investment fund managers (AIFMs) (Guidelines).

AIFMD - Remuneration and Proportionality
Directive 2011/ 61/EU on Alternative Investment Fund Managers (AIFMD) had to be implemented by EU member states by 22 July 2013. AIFMD is supplemented by a delegated regulation (AIFMD Regulation).

AIFMD - Liquidity Management
AIFMD deals with liquidity management in Article 16 and the AIFMD Regulation supplements this in Articles 46-49.

AIFMD - Depositary
There are no transitional provisions for depositaries so after the effective date of AIFMD, depositaries must comply with the provisions of AIFMD where they are appointed as a depositary of an AIF by an AIFM.

AIFMD - Transparency
AIFMD sets out transparency requirements for annual reports, disclosures to investors and reporting to regulators.

AIFMD - Investment in Securitisation Positions
AIFMD through the AIFMD Regulation introduces requirements for AIFs investing in securitisation transactions.

AIFMD - Calculation of Assets Under Management (AUM)
This note looks at Calculation of Assets Under Management; (AUM); Breaches of Thresholds; Calculation of Leverage and Professional Liability Risk Cover.

AIFMD - Passporting
The AIFMD contemplates two forms of passport, the first is in respect of marketing (which is the incentive to seek authorisation as an AIFM) and the second is in respect of managing an EU AIF located in a Member State other than the home Member State of the AIFM.