Alternative Investment Fund Managers Directive (AIFMD)

Early 2014, Bouwinvest was one of the first parties in the Netherlands to obtain an AFM licence as required by the AIFMD. This licence allows Bouwinvest's funds to manage funds that are open for other institutional investors besides bpfBOUW.

The AIFMD specifies certain transparency and integrity related requirements for Alternative Investment Funds. For Bouwinvest this has led to an increased workload in reporting. On top of that, alignment activities with our newly contracted custodian -Intertrust Group- required additional operational efforts. Nevertheless, 2014 has shown that Bouwinvest is geared up for these additional tasks. Bouwinvest foresees no AIFMD-related challenges for 2015 besides minor optimisation of internal processes.

You will find more detailed information on financial risks in the Financial risks section of the explanatory notes to the financial statements.

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