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The changing face of alternatives distribution | Deloitte solution


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Context

The changing face of alternatives distributionThe Alternative Investment Fund Managers Directive (AIFMD) will harmonise the alternatives industry across the European Union. As with UCITS, this involves a harmonised system of distribution via a passport.

Under UCITS, this European-wide passport was granted to the fund, whereas under the AIFMD, the EU passport is granted to the Alternative Investment Fund Manager (AIFM).

The distribution regime and EU passport will co-exist with the national private placement regimes of each member state. The landscape for cross-border distribution of Alternative products will be challenging.

Key Opportunities

The use of the EU passport to distribute alternative funds using one single and harmonised regime rather than 27 different regimes, as was the case pre-AIFMD.

Cross-border distribution is the key to global investment being made easier by the EU passport and harmonised regime. Use of the AIFMD’s harmonised distribution regime is initially only available to AIFMs domiciled in the EU who are eligible to apply for an EU passport. Following the success of this, the EU passport will become available to non-EU AIFMs.

In the meantime however, non-EU AIFMs will continue to use national private placement regimes.

Our Services

Leveraging 10 years of Deloitte experience in cross-border fund registration, we can assist you with your cross-border distribution needs.

Our services include the following:

  • A single universal approach to registration for all undertakings for collective investment for UCITS IV and AIFMD
  • Passport application and registration – a bespoke full service offering
  • Analysis of domestic distribution rules
  • Review of marketing materials
  • Monitoring the evolution of National Private Placement Regimes
  • Private placement advice across the EU

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Contacts

Name:
Lou Kiesch
Company:
Deloitte Luxembourg
Job Title:
Partner - Regulatory Consulting
Phone:
+352 451 452 456
Email
lkiesch@deloitte.lu
Name:
Christopher Stuart-Sinclair
Company:
Deloitte Luxembourg
Job Title:
Directeur - Regulatory Consulting
Phone:
+352 451 452 202
Email
cstuartsinclair@deloitte.lu
Name:
François-Kim Hugé
Company:
Deloitte Luxembourg
Job Title:
Directeur - Fund Registration Services
Phone:
+352 451 452 483
Email
fkhuge@deloitte.lu
Name:
Michael John Flynn
Company:
Deloitte Luxembourg
Job Title:
Directeur - Regulatory Consulting
Phone:
+352 451 452 060
Email
mjflynn@deloitte.lu

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