Investment funds, asset management, and benchmarks

Investment funds and asset management

Practice Notes

1. •

   EU AIFMD—essentials—the Alternative Investment Fund Managers Directive (Directive 2011/61/EU) (AIFMD) provides a comprehensive framework for the regulation of alternative investment fund managers (AIFMs) marketing or managing alternative investment funds (AIFs)—such as hedge funds, private equity funds, and real estate investment funds—in the EU. This Practice Note explores key elements of AIFMD, including its scope, available exemptions, regulatory framework, authorisation process and provisions for small AIFs. It also considers changes introduced by Directive (EU) 2024/927 (AIFMD II) which entered into force on 15 April 2024 and applies from 16 April 2026, except for certain reporting changes that must be applied 12 months later, from 16 April 2027

2. •

   FLASHCARD—EU AIFMD—this FLASHCARD will help you absorb or recall the core points of the Alternative Investment Fund Managers Directive 2011/61/EU (AIFMD)

3. •

   EU AIFMD II—key changes to AIFMD and UCITS—this Practice Note provides an overview of Directive (EU) 2024/927 (AIFMD II) which has amended Directive 2011/61/EU (the Alternative Investment Fund Managers Directive (AIFMD)) and Directive 2009/65/EC