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ARTICLE · 15 MAY 2014

AIFMD – Updated Central Bank Q&A

Dillon Eustace
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The Central Bank of Ireland updated its AIFMD Q&As clarifying two points relating to funds originally authorised under the pre-AIFMD Non-UCITS regime.

IrelandFinance and Banking
Dillon Eustace
Dillon Eustace
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On 2 May 2014, the Central Bank of Ireland (the "Central Bank") updated its AIFMD Q&A document ("Q&A") clarifying two points relating to funds originally authorised under the pre-AIFMD Non-UCITS regime which are in the process of converting to AIFMD status Currently subject to the Central Bank's Non-UCITS regime (including the NU Notices/Guidance Notes), these funds will instead be subject to the AIF Rulebook with the old regime falling away.

The 9th Edition of its AIFMD Q&A document can be obtained here.

ID 1054 – unregulated master funds

Under the Non-UCITS regime the Central Bank permitted QIFs, in certain limited circumstances, to invest up to 100% of their assets in unregulated master funds. QIFs which wanted to do so needed a derogation from the Central Bank under Section D, Annex 1 to Guidance Note 1/01.

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