AIFMD

Your challenges

Whether you are a Fund Manager established in or outside the European Union, a Management Company managing non-UCITS funds or a distributor marketing these products, you will sooner or later be affected by the AIFMD and its impact on the distribution of alternative funds. Due to its scope and the use of grandfathering rules, the AIFMD raises a number of initial questions that need to be addressed, including:

• Can I benefit from the marketing passport?
• Is private placement still possible today?
• Will there still be local marketing requirements to satisfy?
• What if I do not get the passport?

How we can help

Distribution and Marketing analysis: Determine the impact of the marketing passport by evaluating all your AIFs, where they are sold, who your investors are, where they are located, where your licensed AIFM is based, and what is your current and future marketing strategy.

Definition of the reporting requirements: Based on the results the above, we will identify the nature and frequency of all reporting to each EU Member State, whether it is the home country of the AIFM or the host country of distribution.

Notifications to EU host countries:

• Initial registration - Once authorised, an EU AIFM can only market the EU AIF within the European Union by using the “marketing passport”.
• Ad-hoc notifications - The AIFMD requires that each time there is a material change in the information previously sent to regulators to initially use the passport, the change(s) must be notified, according to specific rules.
• Regular reporting - Ongoing reporting is required depending on the type of AIFM, on the countries of distribution and on the type of investors.
• Non-UCITS funds distributed through private placement - The distribution and marketing availabilities under NPPR depend on the laws and regulations of each EU host Member State.