FUND 10.1 Application and purpose

1. (1)

   This chapter applies to the following types of firm in relation to the activities in (2):

   1. (a)

      a full-scope UK AIFM;

   2. (b)

      [deleted]

   3. (c)

      a small non-UK AIFM; and

   4. (d)

      an above-threshold non-UK AIFM.

2. (2)

   The activities to which this chapter relates are the management and marketing on a cross-border basis, into or from the UK of:

   1. (a)

      a UK AIF; and

   2. (b)

      a non-UK AIF.

   3. (c)

      [deleted]

The purpose of this chapter is to provide guidance on the requirements that apply to the types of firm set out in FUND 10.1.1 G when operating on a cross-border basis into or from the UK.

1. (1)

   There are specific provisions for third country AIFs and AIFMs (ie, in relation to non-UK AIFs and non-UK AIFMs) and the marketing of a UK AIF or a non-UK AIF that is a feeder AIF, the master AIF of which is managed by a non-UK AIFM or is a non-UK AIF.

2. (2)

   A UK AIFM is allowed to manage a non-UK AIF from the UK.

3. (3)

   In addition, the UK allows the marketing by the following types of AIFM in the UK:

   1. (a)

      a full-scope UK AIFM of:

      1. (i)

         a UK AIF that is a feeder AIF, the master AIF of which is managed by a non-UK AIFM or is a non-UK AIF and;

      2. (ii)

         a non-UK AIF;

   2. (b)

      [deleted]

   3. (c)

      a non-UK AIFM of:

      1. (i)

         a UK AIF; and

      2. (ii)

         a non-UK AIF.

      3. (iii)

         [deleted]