Company: Macfarlanes LLP
Category: Hedge Funds
Published: 07 February 2013
UCITS schemes will not constitute alternative investment funds for the purposes of the Alternative Investment Fund Managers Directive; but non-UCITS retail schemes and qualified investor schemes will be firmly within scope and will constitute AIFs. Operators of regulated funds are used to carrying on their business and operating their funds in a heavily regulated environment so is it simply business as usual for such firms?
Many of the Directive provisions are based on those set out in the Undertaking for Collective Investment in Transferable Securities Directive. However, this white paper reviews a number of matters that fund managers will still need to consider.