This course will provide an insight to the legal characteristics and main operating conditions for the Alternative Investment Funds in Cyprus. The aim being to give a holistic understanding to participants of the main legal elements, different legal forms and structures and main operating conditions for AIFs.
In the latest sections of the seminar, a description will be given of the main roles and responsibilities under the AIF and AIFM Law.
After the completion of this seminar, participants will be able to grasp an understanding of the main legal characteristics and operating requirements of AIFs under the AIF Law as well as the various roles and responsibilities such as the AIFM and the Depositary.
Introduction: The Legal Regime for AIFs in Cyprus
- The aim of the Law: The Aims it pursues to achieve
- The Scope of Application of the Law
Definition, Legal Form, Classifications and Structures
- Definitions and Terminology
- Legal Form: The Investment Company, The Common Fund, The Limited Partnership
- The Open-ended / Close Ended AIF
- The Single Fund Structure and the Umbrella Fund Scheme
- Management of the AIF: Self- Managed vs Externally Managed
- The Limited Number of Persons AIF (AIFLNP) vs Unlimited Number of Persons AIF
- The Listed AIFs
- The authorised AIF vs Registered AIFs (RAIFs)
Main Operating Conditions of the AIF
- Registered Office
- Appointment of Depositary
- Minimum Initial Capital
- Maintaining Minimum Assets
- Management and Administration of an AIF
- Investment Policy
- Risk Management
- Conflicts of Interest
- Valuation of Assets
- Subscriptions and Redemptions of Units
- Marketing and Distribution
- The Professional/well informed Investor
- Dissolution and Liquidation
Roles and Responsibilities related to the Operation of AIFs
- Defining Roles and Responsibilities
- The AIFM in overview
- The Depositary: Basic overview of the functions and duties of Depositary
- The Investment Advisor: Example of the role and functions
- The Investment Committee
- Other Significant Roles related to the Operation of AIFs
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 as well as show various videos that highlight particular course 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.
This programme may be approved for up to 5 CPD units in Financial Regulation and Law. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
Who Should Attend
This course is applicable to all professionals employed in the Fund Sector or seeking to join the Fund Industry such as Fund Managers, Fund Administrators, Compliance Officers, Depositories, Risk Managers or third -party professionals such as Lawyers, Accountants and Fiduciary Service Providers, who wish to gain an insight into Cyprus Funds Law and the Cyprus Funds Industry.