Summary
An overview of the contents of FUND 3 of the FCA Handbook, with links to section summaries from FUND 3.2 to FUND 3.12.
Pre-investment and ongoing disclosure on strategy, risks, liquidity and costs.
Annual financial and activity report for each in-scope AIF.
Periodic FCA reporting on portfolios, exposures, risk, liquidity and leverage.
Due-diligence and monitoring rules for AIF investments in securitisations.
Alignment of strategy, liquidity profile and redemption terms, supported by liquidity management systems.
Organisational separation and systems for identifying, monitoring and managing AIF risks.
Contractual and oversight framework for AIF relationships with prime brokers.
AIFM responsibility for asset valuation and NAV calculation under documented policies.
Conditions and limits on delegating AIFM functions, including safeguards against “letter-box” structures.
Depositary oversight, safekeeping of assets and cash-flow monitoring for in-scope AIFs.
FCA approval and notification process for marketing UK AIFs in the UK.
