The Governance of AIF & AIFM

1. Introduction
2. Agenda
3. Speakers

The Members of Boards of Directors of alternative investment funds (AIFs) and Alternative Investment Fund Managers (AIFMs) are finding themselves under increasing scrutiny from investors in AIFs, initiators of AIFs and sponsors or AIFMs, regulators and other stakeholders.

The implementation of the AIFM Directive (AIFMD) substantially raised the bar for AIFMs and the AIFs they manage.

In order to comply with this formal and prescriptive regime, the Boards of AIFMs and of AIFs need to master adequately their organisational models and structures, corporate governance practices, remuneration models, fund documentation, due diligence and oversight practices and many other aspects of operations.

The requirements of the AIFMD have to be reconciled with the realities of the organisation of the group, of each AIFM and of each AIF, often spanning multiple EU and non-EU jurisdictions, and the impact of other EU and non-EU regulations.

In this context, Directors now have to be part lawyer, auditor, regulatory expert, portfolio and risk manager, operational manager and systems technician, among many other things.

The objective of the first half day of the training course on 9 October 2019 is to provide a high level overview of practical issues for directors to warm up for the case studies presented during the following day.

The objective of the second full day course on 10 October is help Directors of AIFs and of AIFMs to better understand the issues they face within their organisations and, ultimately, give Directors the tools to help them to ask the right questions.

The day will be dedicated to four case studies focusing on key issues faced by Boards in the context of AIFs such as: structuring an AIFM, allocation of roles and responsibilities, meeting substance requirements, the relationships between the Boards and key functions in AIF structures, cross-jurisdictional coordination in AIF structures, role of depositary, conflicts of interests, onboarding new clients, oversight over distribution and managing personal exposure.

Each case study is interactive and facilitated by leading Luxembourg experts. The participants will have the opportunity to play different roles in AIF structures, in small groups, and share their perspectives and experiences. The number of participants is limited.