AIFs are essentially funds characterised as such in light of the EC Alternative Investment Fund Managers Directive (‘AIFMD’). Accordingly, and in principle, any Fund targeting professional investors and which is managed by an Alternative Investment Fund Manager (in terms of the AIFMD) or which, in the case of a self-managed fund, holds more than €100million assets under management or which opts-in to benefit from EU/EEA passporting entitlements, would be characterised and regulated as an AIF.
The units or shares of a Maltese AIF may be marketed to professional investors in any another EU or EEA Member State by virtue of the said passporting entitlements and/or to Qualifying Investors having a minimum investment requirement of EUR 100,000.