Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
Find up-to-date guidance on points of law and then easily pull up sources to support your advice with Lexis PSL
With over 30 practice areas, we have all bases covered. Find out how we can help
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Regulatory, business information and analytics solutions that help professionals make better decisions
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
For the supermen and women of the AIF world, the 22nd July AIFMD implementation deadline may be looming large, with new disclosure and annual reporting requirements on their way. New pre-investment disclosures to investors; an annual AIF report; and a report to competent authorities, covering investment strategies amongst other things. A fundamental threat to hedge funds’ USPs?
Caroline Gibbs, Director at Kinetic Partners discussed the changes and their potential impact with LexisNexis’ Duncan Wood.
What changes will come about from the requirements for transparency/annual reports?
The AIFMD introduces a number of new transparency requirements including disclosures to investors, an annual AIF report and a report to competent authorities.
The disclosure to investors requirements are applicable to any AIF manager that manages an EEA AIF or markets an AIF in the EEA. There are requirements to provide disclosures to investors prior to them investing and will include a number of new disclosures as a result of AIFMD. These include information on the valuation procedure, liquidity policy, the depositary and the prime broker. There are also requirements regarding disclosures that need to be made on an ongoing basis.
The annual AIF report must be prepared for any EU AIF managed by the AIF manager as well as any AIF marketed in the EEA. This report is based on the financial year end of the AIF and must be produced within six months of the period end. The report must be sent to the competent authority of both the home state of the AIF manager as well as the home member state of the AIF (if the AIF is an EEA AIF). This report must also be made available to investors if they request it. A number of requirements in relation to content are items which will already be included in the annual report investment managers currently prepare (eg financial statements and reports on activities during the financial year)—however, there are a number of new items which investment managers may not already include, such as remuneration arrange
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
0330 161 1234