AIFMD: challenges and opportunities
Emmanuelle Entringer and Bishr Shiblaq of law firm Arendt & Medernach explain the impact of the Alternative Investment Fund Managers Directive (AIFMD) on fund managers in the Middle East and North Africa.
The Alternative Investment Fund Managers Directive (AIFMD), which came into force on 21 July 2011, forms part of a European programme to extend regulation and oversight to all actors and activities that embed signifi cant risk. Among such actors featured in the AIFMD are managers of alternative investment funds (AIFs).
AIFs mainly comprise of hedge funds, private equity and real estate funds, but have been defined broadly to include (in principle) all funds that are not regulated under the Directive governing undertakings for collective investment in transferable securities (Ucits, or retail funds with a passport for EU-wide distribution)…
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