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Hedge Fund Monthly
 
The Role of the Depositary under the AIFMD
Mark Browne, Partner
Mason Hayes & Curran
May 2013
 

One of the primary stated aims of the Alternative Investment Fund Managers Directive1 (AIFMD) was to increase investor protection2. A key step in this regard was the imposition of a standard requirement that alternative investment funds managers (AIFMs) falling within the scope of the AIFMD and marketing their funds into Europe ensure each relevant alternative investment fund (AIF) which they manage appoints a third party depositary with respect to its underlying assets3.

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