Ireland

Details

  • Service: Advisory, Regulatory Advisory Services
  • Industry: Financial Services, Investment Management
  • Type: Business and industry issue, KPMG information
  • Date: 19/03/2014

Alternative investment fund managers directive (AIFMD) 

The AIFMD is having a significant re-shaping effect on the alternative investment fund industry in Europe and beyond.

Alternative Investment Fund Managers Directive (AIFMD)
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The broad scope of the Directive captures many managers of hedge funds, private equity funds, real estate funds and alternative funds, including funds that are marketed in the EU. Some vehicles have been either lightly regulated or unregulated in the past and the work required to adapt their operations to the new requirements is substantial. The operating model of managers that run funds across multiple jurisdictions is also being impacted and the value chain may need to be re-organised due to new rules on delegation and depositaries.

 

The AIFMD has been transposed into national legislation in a number of EU Member States, including Ireland. As a result in practice, many managers have already completed their gap analysis and are now addressing identified gaps.

 

In this publication we provide an overview of the AIFMD (Level I and Level 2) legal and regulatory framework that governs the alternative investment fund industry in the EU that has, since July 2013, re-shaped the operations of managers and the alternative funds they manage.

 

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Frank Gannon 

Frank Gannon

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Partner

frank.gannon@kpmg.ie

+353 1 410 1552

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Heleen Rietdijk

Heleen Rietdijk
Director & Global Head of AIFMD
heleen.reitdijk@kpmg.ie

+353 1 700 4111

Alternative investment fund managers directive (AIFMD)

By regulating alternative fund managers rather than the funds themselves, the EU’s Alternative Investment Fund Managers Directive (AIFMD) has taken a radical new approach to investor protection.

 

This in turn has created new complexities, costs and considerations for those operating in this sector.

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