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AIFM and AIF Reporting

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REGULATED ENTITIES AIF MANAGEMENT COMPANIES AIFM and AIF Reporting

AIFM and AIF Reporting

Sub threshold AIFMs includes all directly appointed managers of AIFS( not after delegation by the manager of the AIF), including AIFs of limited number of investors (former ICIS), that are not authorized as an AIFM as per the Alternative Fund Managers Law of 2013. Entities that could fall under this definition include:

UCITS Management companies that manage at least one AIF.
CIFs that manage at least one AIF.
Investment firms of third countries that manage at least one AIF established in Cyprus.
Self-managed AIFs.

Sub threshold AIFMs must in accordance with article 4(3)(d) of the Alternative Fund Managers Law of 2013 provide regularly, annually as set by Article 5(5) of the EU Regulation 231/2013, to the CySEC specific information on the AIFs they manage. The specific information to be provided is determined in article 110(1) of the EU Regulation 231/2013. Authorised AIFMs of the Republic must in accordance with Article 31 of the Alternative Fund Managers Law of 2013 provide regularly to the CySEC detailed information on the AIFs they manage (Article 31(1),(2) and (4)) or market in the EU (Article 31(2)), as specified in Article 110(1)(2) of the EU Regulation 231/2013.

The frequency of the reporting for authorized AIFMs depends on the value of assets under management in portfolios of AIFs managed by a given AIFM as determined in Article 110(3) of the EU Regulation 231/2013.

The deadline for the submission of the information is one month after the end of the reporting period. Where the AIF is a fund of funds this period may be extended by the AIFM by 15 days.

The CySEC recommends that AIFMs read carefully the ESMA Q&As on the Application of the AIFMD and the EMSA Guidelines on reporting obligations under Articles 3(3)(d) and 24(1), (2) and (4) of the AIFMD. Both documents are available on the CySEC’s website under Regulatory Framework, Collective Investment and Managers, AIFM under the European Regulatory Framework section. The data must be completed in the English language and information marked as optional has to be reported if the AIFM has information to report.

IT Technical guidance for AIFMD reporting
The Regulated Entities will submit the information electronically using digitally signed xml files via the Commission’s Transaction Reporting System (‘TRS’).

As defined by XML standards, XML files are described using XML Schemas. The XML schemas (XSDs) corresponding to the XML file, Sample XML files for AIFM and AIF reports and the IT Technical guidance for AIFMD reporting (2013/1358) is available on ESMA’s website and on CySEC’s Website and contains the following set of documents:

XSD documents (Version 1.2)
IT technical guidance to be used as reference for the all the fields of the AIFMD Application (below)
XML samples for AIFM and AIF reports
Excel version of Annex III – “Table of geographical areas”

AIFMD Application
The Commission in order to assist the Regulated Entities with the preparation of the XML file has created the AIFMD application which the Regulated Entities can use to create their XML file. The AIFMD Application is available as a ZIP file and contains the following:

the AIFMD Application which consists of:
- the AIFMD Application executable
- the AIFM Application DB
- the ExportFiles folder (where the user prepared xml files will be stored)
- the XSD documents (Version 1.2)
the AIFMD Application User Guide

To install the application simply extract all files in a separated directory (Do not run the executable from inside the ZIP file). In order to run any of the reports of the AIFMD Application please install the Crystal Reports Redistributable that corresponds to your PC.