Waters Technology published an article “Fund Managers Gear Up for AIFMD” which looks at how managers are preparing to comply with AIFMD, in what is now the “homestretch” to the final date for compliance, 22 July 2014. The article features comments from a number of leading law firms and service providers and covers some background to the original objectives of the AIFMD, investor protection and the depositary requirements, marketing, risk management, and reporting.
INDOS Financial sets out a number of considerations for managers when selecting a depository, Managers should consider the regulatory status of the depository, its breadth of experience and financial strength, its legal position on liability, its degree of independence from the fund accounting function over which the depository will have oversight, operational requirements, its on-boarding process, reporting and transparency, and, of course, costs.
INDOS has developed an on-boarding checklist to facilitate a manager’s due diligence.
The full Waters Technology article can be read by clicking here (subscription required).