Essential Concepts in the Alternative Investment Fund Managers Directive

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II - Investment Products
II. 1 - Collective Investments
II. 1.3. Specific Provisions for AIFs
II. 1.3.1. Common Provisions

Doctrine
AIFM

Essential Concepts in the Alternative Investment Fund Managers Directive

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Applicable as of October 13, 2013
Position DOC-2013-16

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Summary
The AMF applies the ESMA orientations regarding the essential concepts contained in the AIFM Directive (ESMA/2013/611). The AMF integrates these into a position that clarifies the various concepts defining an alternative investment fund (AIF). Clarifications are thus provided regarding the qualification as a collective investment undertaking, the notion of capital raising, the condition related to the number of investors, and the existence of a defined investment policy.

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Article L. 214-24 I of the Monetary and Financial Code

Orientations on the essential concepts contained in the directive on alternative investment fund managers (ESMA/2013/611) Legal notices:
Publisher: The Director of the AMF Communication Department. Contact: Communication Department, Autorité des marchés financiers - 17, place de la Bourse - 75082 Paris Cedex 02