Alternative Investment Fund Manager (AIFM)

An Alternative Investment Fund (AIF) is a special fund managed by an Alternative Investment Fund Manager (AIFM).

A licence pursuant to the AIFMG is required to manage an AIF. In addition AIFMs may also demand a licence for the provision of investment services (e.g. individual portfolio management, investment advice, placement of orders). Provided that the threshold values listed in Article 1 para. 5 AIFMG are not exceeded then a registration notification is sufficient. A registered AIFM is basically not allowed to advertise their AIF to private customers or on a cross-border basis.

The Financial Market Authority has been conferred the right to perform duties pursuant to the AIFMG, the AIFM Directive as well as the delegated European legal acts.