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ARTICLE · 01 MARCH 2016

Categorisation Of Alternative Investment Funds

Elias Neocleous & Co LLC
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Elias Neocleous & Co LLC

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In December 2015 the Cyprus Securities and Exchange Commission (CySEC) issued Directive DI131-2014-03 on categorisation of Alternative Investment Funds and other related matters.

CyprusFinance and Banking
Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
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In December 2015 the Cyprus Securities and Exchange Commission (CySEC) issued Directive DI131-2014-03 on categorisation of Alternative Investment Funds and other related matters. CySEC has now issued further guidance making it clear that it is not mandatory for an AIF to include in its name any distinctive feature in relation to its main category of assets, and that AIFs are free to use any other characteristic as a descriptor. 

However, if an AIF chooses to include in its name a distinctive feature in relation to its main category of assets, then this feature should be consistent with the investment policy and strategy set out in its constitutional documents. 

If an AIF invests in a main category of assets as in accordance with the Directive, then the AIF will fall within the relevant category and will be subject to the rules that govern that specific category.

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