European Institute of Management and Finance | The Fund Industry: Definitions, Structures, Strategies and Regulations
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The Fund Industry: Definitions, Structures, Strategies and Regulations

The Fund Industry: Definitions, Structures, Strategies and Regulations

 

Mutual Funds are a very widely used financial tool. Investors, professionals and individuals make use of them in order to benefit from the professional investment management and risk diversification.

 

Cyprus is rapidly emerging as funds jurisdiction both for UCITS and AIFs. Asset under management grow at a fast pace and more and more people become familiar with these products.

 

The legislative environment is full and up to date and investors have a lot of options available.

 

This seminar aims to familiarize participants with basic elements of the funds’ industry, the structures available in Cyprus and the prevailing laws and regulations.

 

 

Training Objectives

 

During this seminar participants will attain an understanding of:

 

  • The basic notions around investment funds
  • The common things and differences between UCITS and AIFs
  • The available structures
  • The basic legal requirements
  • The ways funds operate

 

 

Training Outline

 

  • What is a UCITS fund
  • When did they start, historical background
  • Rulebook, prospectus and other documents of the funds
  • Units
  • Management companies
  • European passport and freedom in services provision
  • Permitted investments
  • What is the custodian and why it is important to the investors
  • Existing legal framework
  • Directive UCITS IV & V
  • Law 78 (I) 2012
  • The 5th AML Directive: the core goals and what to expect
  • First thoughts of the 6th Directive
  • Basic provisions of the UCITS law
  • AML rules for UCITS
  • Other issues
  • General characteristics of AIFs
  • Authorization of an AIF
  • Common rules for the organization and functioning of AIFs
  • AIF external manager
  • AIF custodian
  • Subscription and redemptions of AIF units
  • Special provisions
  • Obligations for investors information
  • Mergers
  • Distribution of foreign AIF units in Cyprus
  • Listed AIFs
  • Regulatory environment
  • AIF with limited number of persons
  • Registered AIFs
  • Authorization of AIFMs
  • Operating Conditions for AIFMs
  • General requirements for AIFMs
  • Organizational requirements for AIFMs
  • Delegation of AIFM functions for AIFMs
  • AIF depositary
  • AIFMs managing special types of AIF
  • Rights of AIMFs to manage and market EU AIFs in the Union
  • Specific rules in relation to third countries
  • Marketing of units of AIFs to retail investors in the Republic
  • Supervision rules
  • Upcoming changes

 

 

Training Style

 

The training style will include the presentation of all the material using slides and handouts.  The trainer will use practical examples to elaborate various concepts and encourage class discussion.  Participants will engage in exchange of ideas and sharing of knowledge on the subject matter.  Participants will also be able to ask questions and obtain clarifications from the trainer on all the material covered.

 

 

CPD Recognition

 

This programme may be approved for up to 5 CPD units in Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

 

Professionals requiring CPD units to meet the education requirements for CySEC licence renewal, and/or for maintaining other professional memberships/certifications which accept CPD in Financial Regulation, are advised to consider training subjects in categories that indicate CPD training in Financial Regulation.

 

 

Who Should Attend

 

People working in Fund Managers, Fund Administrators and other Professionals who need to update or refresh their knowledge on Mutual Funds as well as Lawyers, Accounting Firms and Corporate Service Providers, that wish to understand the funds industry.