The February 2014 edition of Funds Europe contains an interesting article on AIFMD Depositary-lite in which it explores the current status of the depositary-lite market, the approaches being taken by different firms and, despite the fast approaching 22 July 2014 for AIFMD compliance, a general lack of readiness in the market to provide depositary-lite services.
The article references INDOS Financial as being the first independent UK depositary specialising in hedge funds to obtain authorisation from the Financial Conduct Authority in the UK to act as an Article 36 custodian to provide AIFMD depositary-lite services.
The article concludes that managers should be making their depositary-lite provider selections soon to avoid on-boarding issues as the 22 July deadline approaches.
To read the full Funds Europe article click here (subscribers only or free registration to access).
