Is an AIFM regulated?
An AIFM is authorised under the European Communities (Alternative Investment Fund Managers Directive) Regulations 2013 (“the Regulations”) to engage in Portfolio Management and Risk Management services of AIFs.
What does an AIFM do?
An AIFM is defined as an entity that provides, at a minimum, portfolio management and risk management services to one or more AIFs as its regular business irrespective of where the AIFs are located or what legal form the AIFM takes.
Is a small AIFM a MiFID firm?
MiFID investment firms (other than Exempt CAD firms). These are investment managers and other firms authorised as MiFID investment firms. In a private equity context, these are typically firms acting as an investment manager (but not an AIFM).
Can an AIFM manage a UCITS?
An AIFM which is also authorized under the UCITS Directive is permitted under both Directives to carry out management of portfolios of investments (individual portfolio management).
Can an AIFM be an investment manager?
Alternative investment fund managers AIFs can choose to be managed by an external AIFM or internally, where the legal form of the AIF permits such internal management.
Is a GP a AIFM?
AIFMD is practically silent on the role of GP. Under the Luxembourg Company Law, the strategy and management of a fund remains the legal responsibility of the board of the GP. This being said, the AIFMD defines AIFMs as any “legal person whose regular business is managing one or more AIFs”.
What is a UK AIFM?
The Alternative Investment Fund Managers Regulations (UK AIFMD) provide a regulatory framework for alternative investment fund managers (AIFMs), including managers of hedge funds, private equity firms and investment trusts.
Is an AIFM a MiFID investment firm?
MiFID investment firms (other than Exempt CAD firms). These are investment managers and other firms authorised as MiFID investment firms. In a private equity context, these are typically firms acting as an investment manager (but not an AIFM). These firms will be subject to the entirety of MiFID II.
Does MiFID apply to AIFM?
Introduction. Any authorised AIFM may apply to their home regulator for “MiFID Top-Up” permissions, i.e. authorisation to provide certain additional investment services as per Article 6 AIFMD.
Does MiFID II apply to AIFM?
Under MiFID II, the product governance requirements are extended to all client types. The MiFID II product governance requirements apply to full scope AIFMs which are also authorised to provide MiFID investment services (i.e. CPMI firms) but only in connection with the performance of such MiFID investment services.
What is an AIFM FCA?
Is an AIFM an investment firm?
An AIF is a ‘collective investment undertaking’ that is not subject to the UK UCITS regime, and includes hedge funds, private equity funds, retail investment funds, investment companies and real estate funds, among others.
Is an AIFM subject to MiFID?
Is an AIFM a financial institution?
An AIFM is a manager of an alternative investment fund. The term alternative investment fund encompasses a wide range of investment funds that are not already regulated at European level by the UCITS Directive (IP/10/869).