Depositary
Permian AIF Depositary AS and its Swedish branch are approved by the Financial Supervisory Authorities in Norway and Sweden to supply depositary services under the AIF legislation. The fund manager of certain funds is required to set up an independent depository service.
Our Depositary function has an active role in the safeguarding the fund's operations. We have extensive experience and a robust process for monitoring and controlling the fund activities.
A Requirement of the AIFM Directive
Following the introduction of the AIFM Directive, fully licensed managers of alternative investment funds are required to set up an independent depositary service for its funds.
The depositary shall actively monitor and control the fund- and the fund manager’s activities to ensure compliance with legislation and shareholders’ agreements.
Background
Why Is Depositary Important?
Norway introduced the alternative investment fund managers’ directive (AIFMD) into law, effective from July 1, 2014. The directive sets out three particular focus areas for the depositary function: cash management, storage and monitoring of ownership documentation, and monitoring of the sometimes complex agreements which govern the operation of such funds.
While fund managers have always been concerned about such matters, the law sets out a third party control and monitoring requirement.
Permian has extensive experience in all service areas provided by the depositary function, and offers these services through Permain AIF Depositary AS.
Areas of Responsibility
Questions about depository?
Head of business development - onshore
Mattias Ekvall
+46 760 22 94 66
mattias.ekvall@permian.se
Director
Johan Nääs
+47 406 39 923
johan.naas@permian.no
