AIFMD Awareness

The Alternative Investment Fund Managers Directive (AIFM) is a European directive. The AIFMD has been in force since 2013 and aims to harmonize European regulations for alternative investment funds, AIFs. Under the AIFMD, investment fund managers require an AIFMD license to manage or market one or more alternative investment funds. In this e-learning we will discuss in outline what entities require an AIFMD license and which licensing and ongoing requirements apply.

Target audience

This awareness e-learning is relevant to all professionals who (will) have to meet the legal requirements imposed on alternative investment funds.

Contrary to what the ‘A’ of ‘alternative’ might suggest, the scope of the AIFM Directive is broad. The AIFMD applies to all managers of investment funds that do not qualify as UCITS, unless there is an exemption. It does not matter what they invest in.

After finishing the e-learning, you will know when an investment fund manager requires an AIFMD license and what requirements have to be met to obtain and retain the license.

Education level

This e-learning is a course at HBO (higher vocational education) level. We assume that participants already have some prior knowledge of fund management. For those who want to brush up their knowledge in this area, the training contains an appendix with information about investing and investment funds in general.

Objective

This course will teach you the broad outlines of the AIFMD, the regulation of alternative investment funds. In this e-learning we will discuss:

• the scope of the AIFMD (difference with UCITS, regimes and activities);
• the licensing requirements (minimum capital, management and integrity, remuneration policy, etc.);
• the ongoing requirements (risk management, liquidity management, transparency, etc.); and
• the requirements from the Wwft/Sanctions Act and SFDR.

After the e-learning, you will know what requirements have to be met to obtain and retain an AIFMD license.

Course content

Open questions and practice test

Using a number of open questions with standardized answers, you will learn to apply the main rulers of the AIFMD in simple practical situations. The questions of the practice test are representative for the final test and help you to determine whether you have mastered the material sufficiently.

Theory

• Introduction AIFMD
• AIFMD
  • Scope
  • License requirements
  • Ongoing requirements
• Other requirements
  • Wwft and Sanctions Act
  • SFDR
• Appendix: Investments*
  • Financial services
  • Financial instruments
  • Investment institutions
  • Summary of financial instruments
  • Securities trading
  • Portfolio design
  • Performance measurement
  • Client classification and disclosure requirements

*As an appendix to this course you will find a theory section about investing and investment funds in general. The purpose of this section is to brush up your investment knowledge if necessary. The appendix is not part of the test.

AIFMD Awareness Test

You will complete this course with a test in the learning environment. You can also take resits in the learning environment.

Certificate AIFMD Awareness

After passing the test, you can download your personal certificate from the learning environment.

Study duration

The training takes between two and three hours to finish, depending on your prior knowledge about the subject.