Regulatory & Technical


Alternative Investment Fund Managers Directive (AIFMD) 

The Alternative Investment Fund Managers Directive provides an EU framework for the regulation and oversight of alternative investment fund managers (AIFMs).

Similar to the UCITS Directive for retail funds, the AIFMD enables alternative investment funds (AIFs) authorised in one member state to be sold across the EU under a marketing passport. AIFMs managing and/or marketing AIFs in the European Economic Area (EEA) are in scope of AIFMD, with the applicable compliance requirements dependent on a number of factors, including marketing and/or management activity in the EEA, transitional arrangements and level of AuM. 

Find out more about AIFs in Fund Types & Legal Structures.

AIFM Requirements

Since the implementation of AIFMD on 22 July 2013, EU AIFMs are subject to harmonised requirements relating to:

  • Authorisation 
  • Organisational arrangements 
  • Conduct of business 
  • Remuneration 
  • Conflicts of interest 
  • Risk management 
  • Liquidity management 
  • Delegation 
  • Appointment of a depositary 
  • Transparency, disclosure to investors and regulatory reporting 
  • Marketing in respect of EU and non-EU AIFs

In the publications, news and other content on this page you can keep up to date with relevant AIFMD developments and the work of the Association in this area.

Related News

3 Apr 2019 CBI update to UCITS and AIFMD Q&A following their consideration of Bond Connect Regulatory Updates, AIFMD, UCITS 2 Apr 2019 Irish Funds Spring Newsletter Now Available AIFMD, Brexit, UCITS 17 May 2018 Press release: Irish Funds industry net sales breaks new record levels of €298bn Press Releases, AIFMD, Brexit, UCITS 21 Nov 2017 Central Bank update to Stock Connect Q&A following settlement system enhancements AIFMD, UCITS 9 Oct 2017 Central Bank of Ireland UCITS & AIFMD Q&A Regulatory Updates, AIFMD, UCITS 21 Sep 2017 European Commission publishes proposed reforms to foster CMU and financial integration Regulatory Updates, AIFMD, Capital Markets Union, UCITS 12 Dec 2016 Central Bank to accept applications for investment via Shenzhen Connect Regulatory Updates, AIFMD, UCITS 28 Sep 2016 Response to the ESMA Call for Evidence on Asset Segregation and Custody Services Regulatory Updates, AIFMD, UCITS 13 Sep 2016 Central Bank Markets Update - September 2016 Regulatory Updates, AIFMD, UCITS 19 Jul 2016 ESMA issues advice on extension of the AIFMD third country passport Regulatory Updates, AIFMD 18 Jul 2016 ESMA Call for Evidence on Asset Segregation Regulatory Updates, AIFMD 13 Apr 2016 ESMA opinion on key principles for a European framework on loan origination funds Regulatory Updates, AIFMD 24 Mar 2016 Markets Update: UCITS & AIFMD Q&A, IMR and Umbrella Cash Account Updates Regulatory Updates, AIFMD, UCITS 7 Jan 2016 Irish Funds Responds To European Commission Venture Capital Consultation Regulatory Updates, AIFMD, Capital Markets Union 5 Nov 2015 Regulatory Update: Central Bank Markets Update Regulatory Updates, AIFMD 10 Aug 2015 ESMA Consultation on the ELTIF Regulation Regulatory Updates, AIFMD 2 Feb 2015 ​IFIA responds to ESMA consultation on asset segregation under the AIFMD Regulatory Updates, AIFMD 8 Jan 2015 ​IFIA responds to ESMA call for evidence on the AIFMD passport for non-EU AIFMs Regulatory Updates, AIFMD
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