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ID 1200. Issues related to master AIFs and feeder AIFs Back

Relevant provisions

Article 35 of Directive 2011/61/EU

Question

The AIFMD mentions feeder AIF and master AIF in Article 31(1), 32(1), 35(1), 36(1), Annex III and Annex IV.
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Article 35 (1) AIFMD referring to EU feeder AIFs that do not fulfil the requirements referred to in the second subparagraph of Article 31 (1) AIFMD only makes sense if the requirements of Article 35 (2) AIFMD apply also on the non-EU master AIF and/or its non-EU AIFM. In this case Annex 3 and Annex IV e must be read in a way that not only the information on where the master is established but also all other information must be given that is required to examine whether the requirements of Article 35 (2) AIFMD are met by the non-EU master AIF and/or its non-EU AIFM

Answer

The proposed interpretation to the questions seems reasonable in order to ensure that all necessary information is made available.
A "feeder AIF" is defined in Article 4(1)(m) of the AIFMD.

Date

Submitted on 25/03/2013

Legislative Area

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Asset management
Capital Requirements Directives (CRD)
Markets in Financial Instruments Directive
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