Fund Outsourcing & AIFMD - What Do Third Countries Offer?

22 July 2013 was the 'deadline' for the European Union (EU) and the European Economic Area (EEA) Member States to transpose the Alternative Investment Fund Managers Directive (AIFMD) into national law.

A survey from the Alternative Investment Managers Association (AIMA) and EY published soon afterwards showed that 12 out of 31 countries had completed full legislative transposition within the deadline. However, AIFMD does allow Member States some discretion to provide a transitional period to allow the market to adjust to the Directive. Countries such as Spain, Portugal and Belgium are either only in the very early stages of drafting or have not finalised their required domestic legislation at the time of writing.