Independent AIFMD depositary INDOS Financial looks back on 2017 for the AIMA Journal

This INDOS Financial article was first published in the latest edition of the AIMA Journal. The depositary model, introduced in 2014 for many funds under the EU’s Alternative Investment Fund Managers Directive (AIFMD), is now firmly enshrined within the industry. The appointment of a depositary was not initially met with support among the alternative investment fund manager (AIFM) community, but […]

Looking ahead to 2018: An independent depositary’s perspective

The last 12 months produced an eclectic range of challenges for fund managers to deal with. Aside from traversing various macroeconomic and geopolitical uncertainties, many were preparing themselves for further compliance obligations, a number of which have been or will be implemented over the course of 2018. INDOS Financial, the leading independent depositary provider to the alternatives industry, looks at […]

The future for depositaries: Brexit, conflicts of interest and the drive for added value

The role of the depositary was introduced under the AIFMD to address failings of the alternative fund management industry. AIFMD sought to help restore confidence among investors and regulators in the alternatives sector. The depositary, alongside the fund auditor and directors, is now viewed as an important part of the governance structure that provides independent assurance to investors, boards, managers […]

ESMA opinion on asset segregation and application of depositary delegation rules to CSDs

Following a consultation paper issued on 1 December 2014 and a subsequent Call for Evidence on 15 July 2016, ESMA has now set out its opinion on asset segregation under AIFMD. The focus of the original ESMA consultation was the extent to which assets should be segregated throughout the custody chain for the purposes of investor protection rather than extensive use […]

FCA study highlights further regulatory focus on fund governance

This INDOS Financial article was first published by Global Investor and can also be read here (subscription required). A decade ago, fund governance was seen by some managers as little more than a clerical duty albeit one which did not intrude on their activities or strategic decision-making. Equally many investors rarely spoke of or monitored the actions of those directors, despite […]