AIFMD Operating Conditions And Organisational Requirements

This article was first published in the HFMWeek AIFMD Update Report in November 2013.

Central to the various measures under the Alternative Investment Fund Managers Directive (2011/61/EU) (AIFMD), is a framework requiring that each Alternative Investment Fund Manager (AIFM) meets certain organisational requirements and adopts a range of operating policies and procedures. This article briefly considers some of the key operational obligations that will apply to a firm carrying out asset management activities as an AIFM or delegate on behalf of an AIFM for an Alternative Investment Fund (AIF). The aim of this article is to serve as a tool in an AIFMD implementation project – essentially a starting point for a discussion on the operational implications of the AIFMD so that asset managers can start to adapt their business from a practical perspective in order to be aligned with the legal framework documents supporting an AIFMD authorisation.