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ARTICLE · 07 MARCH 2011

AIFM Directive – Overview and Resource Webpage

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The Directive is the corner piece of an extensive legislative initiative by the European Commission seeking to regulate AIFM and the promotion of AIF within the EU. Its aim is to advance the stability and transparency of investment vehicles.

European UnionInternational Law

Originally published March 4, 2011

Keywords: AIFM Directive, non-EU fund managers, UCITS,

Overview

The Directive1 is the corner piece of an extensive legislative initiative by the European Commission seeking to regulate AIFM and the promotion of AIF within the EU2.  Its aim is to advance the stability and transparency of investment vehicles.

New obligations for AIFM

The Directive provides for substantial new legal obligations with regard to the management and marketing of shares or units of AIF. Prior to the Directive, the EU lacked a coordinated regulatory framework for collective investment undertakings qualifying as AIF, including hedge funds, certain private equity funds, real estate funds, securities funds, and commodities funds.

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