Central Bank publishes updated AIF Rulebook setting out additional capital requirements for AIFMs authorised to provide individual portfolio management services

Following a consultation (CP 152) the Central Bank has published an updated AIF Rulebook setting out additional capital requirements for AIFMs authorised to provide individual portfolio management services. 

The new requirements for AIFMs authorised to provide individual portfolio management services are included in Part B of Chapter 3, Alternative Investment Fund Manager Requirements, in the AIF Rulebook.  The new requirements will not apply to AIFMs authorised to provide individual portfolio management services on or before 27 November 2023 until 27 May 2024.    

For the avoidance of doubt, the current condition of authorisation continues to apply to all AIFMs authorised to provide individual portfolio management services authorised on or before 27 November 2023 pending the application of the new own funds requirements.

AIFMs which obtain authorisation to provide individual portfolio management services after 27 November 2023 will be subject to these new requirements upon authorisation.