AIFMD depositary

With the implementation of the Alternative Investment Fund Managers Directive (AIFMD), managers of Alternative Investment Fund Managers (AIFMs) that fall within the scope of this legislation now need to appoint a depositary for their funds.

The depositary ensures the proper safe keeping of the AIF's assets and helps identify risks connected with the performance of the operations of the AIF. We do this by working closely with our clients, getting to know their structures and how they operate. This helps us work efficiently, meeting regulatory requirements without being too intrusive.

Our areas of expertise

Our depositary service, developed according to the requirements of the AIFMD, is industry-leading. A depositary is expected to act honestly, fairly, professionally, independently and in the interest of the AIF and its investors – and that's the way we work.

  • We're authorised as a depositary in The Netherlands, Luxembourg, United Kingdom, Denmark and Sweden and our service is available to AIFMs and AIFs established or marketed in the EU.

Lighter regulations apply to Non-EU AIFs managed by an EU or non-EU manager. They can also assign multiple providers for the depositary services they require.

EU AIF

Non EU AIF

EU Manager

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Non Eu Manager

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The main duties of a depositary are:

  • Safe keeping & record keeping
    • Ensures proper safe keeping of the assets of the fund and verify the ownership of the assets.
  • Cash flow monitoring
    • Ensures qualifying cash accounts, monitors cash flows on the accounts and performs regular checks for unusual transactions
  • Oversight
    • Monitors that the processes of the funds are carried out accurately and in accordance with regulations, in relation to:
      • Subscriptions and redemptions -monitoring of procedures established by AIF(M) or central administration
      • Valuation- verifying appropriateness of asset valuation and NAV calculation
      • Compliance with law and fund documents (e.g. investment restrictions)
      • Timely receipt of payments and settlement of transactions
      • Accuracy of income distributions
Get in touch with our experts
Paul Lawrence
Global Head Fund Services
+44 20 7160 5024
Robert Jan de Clercq Zubli
Director Product Development
Depositary Services, Intertrust Netherlands
+31 20 577 3137

united-states

USA