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Introduction to AIFMD insight

AIFMD expert


The new EU Directive on alternative investment fund managers (the AIFMD) came into force on 21 July 2011. This means that each EU Member State is now required to transpose the AIFMD into national law by 22 July 2013.

Unlike the UCITS Directive (governing retail mutual funds), the AIFMD does not directly introduce European legislation for alternative investment funds (AIFs). Instead, it introduces an authorisation and supervisory regime for alternative investment fund managers (AIFMs) managing AIFs in the European Union, which in many respects is similar to the regime for managers of UCITS funds.

The new regime will capture: (a) EU AIFMs; (b) non-EU AIFMs managing EU AIFs; and (c) non-EU AIFMs who market their AIFs in the EU. Moreover AIFs will be required to have a depository having custody of their assets and having a degree of governance oversight, which is similar in concept to the UCITS regime.

Our online technical resource “AIFMD insight” is designed to assist our clients and contacts when conducting their AIFMD projects. It sets out the latest developments and timing of the AIFMD plus the key resource papers from the Commission, ESMA and the FSA. Clients and contacts are also given access to our latest briefing notes, slides and webcasts.

Red pencils

Sun Dial


Open book pages


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Scales of justice


Her Majesty's Treasury Building

The European Parliament building

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