Regulatory Alerts2014-01-20
Added · Updated
Depositary of an Alternative Investment Fund
The depositary of an Alternative Investment Fund (AIF) is responsible for the safekeeping of AIF assets and performing supervisory duties on behalf of investors. Key functions include holding financial instruments or maintaining registers for other assets, ensuring compliance with the Financial Supervision Act regarding unit holder transactions and investment returns, and auditing AIF cash flows. Eligible depositaries include authorized credit institutions or entities permitted under the UCITS Directive, with specific provisions for alternative depositaries in real estate or private equity funds. Foreign entities require approval from the Autoriteit Financiële Markten (AFM) in addition to notification to De Nederlandsche Bank (DNB).