The EU's Alternative Investment Fund Managers Directive stems from a consensus among the G20 countries in favour of closer regulatory oversight of managers and their activities in the alternative fund sector. In particular, the directive seeks to ensure the establishment of robust risk and liquidity management systems while also enhancing transparency for investors.

The AIFMD was finally approved by the European Parliament on November 11, 2010 after 18 months of intense debate and negotiations.

Luxembourg fully implemented the AIFMD with the adoption of the AIFM Law on July 12, 2013, an important step in the ongoing development of the alternative investment fund industry and the strengthening of Luxembourg’s position as a global investment fund hub.

As a counterpart to increased regulatory oversight, a European passport for alternative investment fund managers (AIFMs) has been introduced for the marketing of their funds (AIFs) to professional investors within the EU, leading to the phasing out of existing private placement rules for distribution by EU member states.

The goals of the AIFMD are:

  • Regulation of activities in the alternative investment fund sector and monitoring of systematic risks.
  • Creation of harmonised rules for the management and marketing of AIFs within the EU.
  • Enhanced transparency for investors.

The AIFMD regime applies directly to AIFMs from the EU or outside marketing alternative funds within the union, whether the AIFs are domiciled within the EU or not, and it applies indirectly to all alternative funds whatever their domicile. There are exemptions for certain types of entity and their managers, but the law applies both to self-managed funds, which are treated as AIFMs, and to AIFs appointing an external AIFM.

How can we assist you?

1. Impact assessment of the AIFM Law on your business model:

  • In or out of scope?
  • Timing.
  • Who is the AIFM?
  • Is reorganisation of your existing structure necessary?

2. In-depth analysis of existing processes, operating rules and agreements.

3. Adaptation of your business model to the AIFMD requirements and implementation of new structures:

  • Drafting of applications for authorisation of existing or new AIFMs.
  • Adaptation or drafting of service provider agreements, such as depository agreements and delegation agreements.
  • Assistance with the regulatory approval process.
  • Assistance with the adaptation or drafting of organisational rules, for example on conflicts of interest.
  • Assistance with the adaptation or drafting of rules of conduct.
  • Adaptation or drafting of prospectuses.

4. Analysis regarding optimisation of VAT and other taxes.

5. Provision of reporting services for EU and non-EU AIFMs under the applicable obligations:

  • Production of reports for the AIFM and AIF(s).
  • Filing of AIFM and AIF(s) reports to the regulatory authorities (such as the CSSF and/or other EU member state regulators, as required).

6. Practical, individualised and interactive training sessions on the AIFMD/AIFM Law by Arendt Institute.

We assist a broad range of fund promoters and asset managers covering all alternative asset classes and other financial institutions on adapting to the requirements imposed by the AIFMD and Luxembourg's AIFM Law.

Please click on the link below to download the AIFM Law brochure.

Related Content

Alternative investment funds
Asset Manager - Advi...
30/12/2015
The CSSF publishes an updated AIFMD FAQ: guidance for the notifications under Articles 25 and 37 of the AIFM Law is given - newsflash - 30.12.2014
The Commission de Surveillance du Secteur Financier (CSSF) has published an updated version of its FAQ on the AIFMD. Read the full newsflash by clicki...
Read More_
13/08/2015
Luxembourg newsflash - AIFM Law: CSSF publishes revised version of its FAQs (version 9, 10 August 2015)
​​The Commission de Surveillance du Secteur Financier (“CSSF”) has published a revised version of its frequently asked questions document, version 9 o...
Read More_
AIFMD Level II conference
AIFMD Richtlinie conference
UCITS & AIFMD conference
10.06.2013 - Luxembourg - AIFMD seminar (English)
10.10.2013 - AIFMD Seminar - London
How to approach and manage the new sanctions regime under UCITS V and AIFMD?
12.11.2013 - Hong Kong - AIFMD, UCITS & RMB internationalisation
14.05.2013 - Luxembourg - AIFMD seminar (German)
UCITS & AIFMD for US Managers Conference
Alternative Investment Structuring, Private Equity Real Estate - Sweden & Luxembourg Common Opport...
Alternative Investment Structuring, Private Equity Real Estate, Denmark & Luxembourg Common Opport...
Arendt Financial Law Forum Asia 2018 - Hong Kong
Arendt Financial Law Forum Asia 2018 - Singapore
enhance
your
experience

Would you like to configure your browsing experience at arendt.com?

Let us know your profile and favourite topics

You are

Banking and Financial Services

Fund Industry

Private Sector

Private Wealth

Public Sector