Alternative Investment Funds, AIFMD, and UCITS Fund Framework

An Alternative Investment Fund (AIF) is any collective investment undertaking, including their investment compartments, which collectively raises capital from a number of investors with the purpose of investing it for the benefit of those investors with a defined investment policy in mind and does not require authorization pursuant to the provision of the Collective Investments Law or the legislation of another Member State, beyond the host country.

The Alternative Investment Fund Managers Directive 2011/61/EU (or "AIFMD" for short) is an EU law on the financial regulation of hedge funds, private equity, real estate funds, and other "Alternative Investment Fund Managers" (AIFMs) in the European Union.The Directive requires all covered AIFMs to obtain authorisation, and make various disclosures as a condition of operation. It followed the global financial crisis. Before, the alternative investment industry had not been regulated at EU level

A UCITS is a collective investment undertaking whose sole aim is the collective investment in transferable securities and/or other liquid financial instruments of capital raised from the public.

UCITS are established and authorised under a harmonised EU legal framework. They are also internationally regarded as one of the most effective asset management tools available thanks to their strong regulation, which results in high levels of investor protection.

This self-paced online course will help you to learn about:

• The Alternative Investment Funds (AIFs) and enable you to distinguish between the various categories and legal forms of AIFs. You will also learn about the relevant legal framework and the rules relating to their operation.
• The Alternative Investment Fund Managers (AIFM) Law of 2013 and its most recent amendment. You will understand to whom the Law applies to, know about its registration, organizational and transparency requirements, as well as the general principles of AIFMs in Europe. Lastly, you will examine the competent authorities for AIFMs in Europe and their supervisory rules.
• UCITS and the various types. You will also learn about the EU and the legal frameworks relating to UCITS and their operation.

Benefits

You will be equipped with a comprehensive overview of the latest knowledge you require, should you desire to competently and positively enhance your understanding for AIFs, including its various categories and legal forms. By the end of this course, you will know about the legal framework pertaining to the registration and running of AIFs as well as to become able to define an AIF external manager, a custodian, and the three classifications of investors. In addition, you will be in position to know about the subscription and redemption of AIF units as well as the AIF industry’s overall activity and volumes in the EU.

Furthermore, you will examine the AIFM and the respective legal framework and will know the most important points to be compliant. Lastly, your will enhance your understanding of UCITS, its historical background and its various types.

By the end of this course, you will be able to define a depositary/custodian, an administrator, the European Passport (for funds), a UCITS management company and an investment manager. You will know about the distribution and redemption of UCITS, as well as the mergers and splits of UCITS. Lastly, you will learn about the recent official statistics on UCITS and funds throughout the world with a specific focus on the EU.

Learning Method

This training course is completed online at your own time and pace. The units consists of video-led and reading materials, as well as auto-marked assessments that aid the comprehension of the knowledge gained.

Accreditation and CPD Recognition

This programme has been developed by the European Institute of Management and Finance (EIMF), one of the most successful providers of finance and management learning solutions. The syllabus is verified by external subject matter experts and can be accredited by regulators and other bodies for 6 CPD Units. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

Certificate of Completion

Upon completion of all learning units and the auto-marked assessments, you will receive electronically a Certificate of Completion. A list of topics that were included in the course will be also sent, which can be submitted to your regulator, association or other bodies which you hold membership for CPD recognition, if needed.

Professional and corporate service providers as well as external consultants can greatly benefit from this self-paced online course as it is a valuable advantage to know the AIF, AIFM and UCITS contexts and the associated legal framework to support their clients effectively.

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