The Federal Government has published a government draft bill for a "Fund Market Strengthening Act", which transposes Directive (EU) 2024/927 (AIFMD II) amending the UCITS and AIFM directives into German law.
Key changes compared to the draft bill include adjustments to outsourcing notifications, expanded lending opportunities for special AIFs, and a redesign of requirements concerning liquidity management tools (LMTs). The specific implementation of LMTs for open-ended real estate and infrastructure funds, as well as transitional provisions for existing funds, are still to be determined.
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