The Alternative Investment Fund Managers Directive (AIFMD), while imposing a strict regime on those who will be fully within scope, offers firms choices. Deciding the degree to which it will impact you involves making strategic choices. Choices on where to domicile your funds; how, where and to whom to market them; where your alternative investment fund manager (AIFM) should be located and what functions may it delegate.
In the first in a series of insights on the directive - Strategy, marketing and distribution - the changes AIFMD will influence - we put a spotlight on these choices to help you to make the right decisions when it comes to balancing your strategic objectives with the impact AIFMD will have on your business going forward.
Within this update we consider how the AIFMD passport will impact your route to market, and look, at a high level, at what all managers (EU or otherwise) need to do in order to ensure that they remain compliant given chosen "go to market" strategies. We also consider the directives definitions around AIFMs, the "third country" rules and the requirements under AIFMD for non-EU managers and AIFs to access EU investors.
Should you wish to discuss any of the issues contained within our insights please do not hesitate to contact me or any of the experts named in the update directly.