- In July 2013, the Alternative Investment Fund Manager’s Directive (AIFMD) has been transposed into national law across the European Union, its aim being to offer regulatory protection to investors in AIFs. One specific requirement of this directive for Alternative Investment Fund Managers (AIFMs) is the need to appoint an independent depositary for each AIF they manage. Intertrust was the first appointed AIFMD depositary in The Netherlands and is now also licensed to act as a depositary in Luxembourg.
- Intertrust (Netherlands) B.V.
The depositary’s principal duties are cash flow monitoring, asset verification and safekeeping, along with various monitoring, checking and oversight tasks to identify and alert investors and regulators to non-compliant transactions with adverse investor impact. As depositary, Intertrust safeguards non-financial assets for the benefit of the investors in Alternative Investment Funds.
“We are proud to be one of the first professionals in Luxembourg’s financial sector that obtained this new license. It underlines our depositary capabilities, which were developed as a response to the announcement of Alternative Investment Fund Manager’s Directive (AIFMD).” said Johan Dejans, Managing Director Intertrust Luxembourg. “From our Luxembourg office, we have been offering administrative and accounting services to regulated and unregulated Private Equity and Real Estate Funds for many years now. This enabled us to gain extensive experience in depositary roles and financial administration, to the benefit of our clients. And that’s exactly why clients choose Intertrust: they work with dedicated professionals who provide reliable and high quality depositary services.”