- Intertrust Group is pleased to announce that it is appointed as the first AIFMD depositary in The Netherlands. The Netherlands Authority for the Financial Markets (AFM) released its first licenses on 17 February 2014, whereby Intertrust Netherlands is to act as a depositary for the Dutch real estate fund managers Vesteda and Bouwinvest. This underlines Intertrust’s depositary capabilities, which were developed as a response to the announcement of Alternative Investment Fund Manager’s Directive (AIFMD).
- Intertrust (Netherlands) B.V.
In July 2013, the AIFMD came into force across the European Union, its aim being to offer regulatory protection to investors in Alternative Investment Funds (AIFs). One specific AIFMD requirement for Alternative Investment Fund Managers (AIFMs) is the need to appoint an independent depositary for each AIF they manage. The principal duties of the depositary are cash flow monitoring, asset verification and – safekeeping, along with various monitoring, checking and oversight tasks to identify non-market risks and alert investors and regulators to non-compliant transactions with adverse investor impact. As a depositary, Intertrust safeguards the interests of investors in private equity or real estate funds.
Building on its extensive experience in other safekeeping roles and in financial administration, bank account management and reporting, Intertrust offers depositary services for non-financial fund assets as part of its integrated range of fund solutions.