KPMG, as part of its mandate from the European Commission in connection with the AIFMD review, has created a survey to assist with a study into how the AIFMD has worked in practice and to what extent the Directive's objectives have been met.

The online survey (accessible here) can be completed until 29 March (new extended deadline). A wide range of stakeholders impacted by the AIFMD, including AIFMs, depositaries, investors, distributors and asset managers from both inside and outside EU are permitted and encouraged to complete the survey.  For AIFMs, the baseline question set includes about 160 questions, and more questions and/or explanation fields appear depending on what responses are given. 

NOTE: At the start of the questionnaire you are given the option of receiving a bespoke link to the questionnaire that will allow you to save answers and come back to them over several sessions.  There is also the option to print the questions in the upper right hand corner.

The questionnaire contains some questions which will appear for all AIFM respondents (regardless of their authorisation status) but which are applicable only if the AIFM is an EU AIFM authorised in a Member State.  Please take care to respond to only those questions applicable to your firm’s status, leaving inapplicable questions blank.  We have prepared an annotated version of the AIFM version of the questionnaire to help AIFM members identify potentially inapplicable questions and identifying questions where we think it would be helpful to have a significant alternatives industry response level.  Our comments appear in the PDF in red.

Given the large number of questions, we have also identified with a purple asterisk in the annotated version those questions that we hope all AIFMs will respond to even if you do not respond to all of the other questions.  The questionnaire does permit questions to be left blank, with the exception of a handful of threshold identification questions at the beginning.  Members should feel free to consider AIMA’s notes but should not feel constrained to respond in a particular way as a result of them.

The question set for associations is a small sub-set of the full list of questions presented to AIFMs.  As a result, we hope that a large portion of membership (both inside and outside the EU) will fill in the questionnaire to assure the alternative asset management industry is well represented in the resulting statistics.  Please take the time to respond to the questionnaire, in whole or even in part.

You will also see in the annotated version a few places where we have asked members to feedback their views on certain topics to us to help us to complete an AIMA version of the questionnaire and to provide post-process feedback and colour about why people answered the way they did.  You can send any such notes and comments to Jennifer Wood (using the link below) to be collated and crafted into AIMA’s response.

If you have any questions regarding the questionnaire, the annotated version or the AIFMD review in general, please contact Jennifer Wood.