What is a UK AIFM?

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.

Who can be an AIFM?

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 UK subject to AIFMD?

On 31 December 2020, the Transition Period with respect to the United Kingdom’s departure from the European Union ended, with the UK ceasing to be treated as a Member State of the European Union. Amongst other consequences, the UK is no longer directly subject to EU law, including AIFMD.

What is a small UK AIFM?

The small registered UK property AIFM will be of interest to managers of unregulated collective investment schemes that invest the majority of their assets in land and whose AUM do not exceed the relevant thresholds.

What is a registered AIFM?

A registered AIFM is a firm that manages AIFs with assets below certain prescribed thresholds as follows: ▪ A registered AIFM is an AIFM managing AIFs with assets under management below prescribed thresholds. ▪ It can avail of a lighter touch regulatory regime than an authorised AIFM.

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).

Is an AIFM an investment firm?

AIFM investment firm – FCA Handbook.

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 agreement?

AIFM Agreement means any alternative investment fund management agreement made between the ICAV and the AIFM in relation to the appointment and duties of the AIFM as alternative investment fund manager as may be amended from time to time subject to the requirements of the Central Bank.

What is an AIFM company?

The activities of an AIF Management Company (AIF ManCos) include providing the portfolio management, risk management and oversight functions required under AIFMD regulation.

Is an AIFM subject to MiFID?