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Legislation / Liechtenstein / Laws / AIFM
AIFM

The AIFM Directive has the goal of increasing transparency for investors and the supervision concerning the activities of alternative investment fund managers (AIFM) and the funds they administrate (AIF).

Liechtenstein had taken over and included this directive in national law through the act of December 19th, 2012, on alternative investment fund managers (German: Gesetz über die Verwalter alternativer Investmentfonds, AIFMG) and with the regulation of March 22nd, 2016, on alternative investment fund managers (German: Verordnung über die Verwalter alternativer Investmentfonds, AIFMV).

The act of law and the regulation control the Alternative Investment Fund Managers (AIFM) and not the funds (AIF). They concern all managers of open and closed funds, as long as they are not already subject to the UCITS Directive.

A particular characteristic of the mentioned act of law in Liechtenstein is the introduction of partial licences concerning permits to work as administrators, as risk managers or as distributors. This offers additional chances for market participants.


AIFMG
Law of 19 December 2012 concerning the Managers of Alternative Investment Funds (AIFMG)

AIFMV
Ordinance of 22 March 2016 concerning the Managers of Alternative Investment Funds (AIFMV)