Glossary

means investment management functions of an AIFM as set out in 1(a) (portfolio management) or (b) (risk management) of Annex I to AIFMD.

means alternative investment fund manager.

means the regulated activity specified in article 25(1) of the Regulated Activities Order.

means the regulated activity, specified in article 53 of the Regulated Activities Order (Advising on investments).

means Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010.

The changes to this defined term are effective from 23:00 on 31/12/2020.

means a legal person whose regular business is managing one or more alternative investment funds.

The changes to this defined term are effective from 23:00 on 31/12/2020.

means a collective investment undertaking, including investment compartments thereof which:

(1) raises capital from a number of investors, with the intention of investing it in accordance with a defined investment policy for the benefit of those investors; and

(2) does not require authorisation pursuant to article 5 of the UCITS Directive.