CP12/32: Implementation of the Alternative ... - BVCA admin

Annex B
Amendments to the Glossary of definitions
In this Annex, underlining indicates new text and striking through indicates deleted text,
unless otherwise stated.
Page 33 of 91
Appendix 1
Insert the following new definitions in the appropriate alphabetical position. The text is not
underlined.
acting as a depositary of an
AIF
acting as a depositary of a
UCITS
AIF alternative investment fund.
the regulated activity, specified in [article xx] of the
Regulated Activities Order of acting as a depositary etc. of an
AIF.
the regulated activity, specified in [article xx] of the
Regulated Activities Order of acting as a depositary etc of a
UCITS.
AIF custodial assets financial instruments of an AIF that that can be:
(a) registered in a financial instruments account opened in
the depositary’s books; or
(b) physically delivered to the depositary.
AIFM alternative investment fund manager.
AIFM investment firm a firm which:
AIFM investment
management functions
(a) is:
(i) a full scope UK AIFM; or
(ii) an incoming EEA AIFM branch; and
(b) has a Part IV permission (or an equivalent permission
from its Home State regulator) for managing
investments where:
(i) the investments managed include one or more
financial instruments; and
(ii) the permission is limited to the activities
permitted by article 6(4) of AIFMD as well as
those permitted by article 6(2).
investment management functions of an AIFM referred to in
point 1(a) (portfolio management) or (b) (risk management)
of Annex I to AIFMD.