The taking of investment and divestment decisions and the monitoring of assets will be performed either on a full delegation (i.e. the AIFM delegates portfolio management to a licensed portfolio manager and retains only a supervisory/control/monitoring function) or advisory basis
Under the latter model, the AIFM receives investment advice and will itself take investment and divestment decisions, based on information provided by the investment advisor(s) and other external sources
Risk Management
Establishing and monitoring compliance with qualitative and quantitative risk limits as set forth in the fund documents and applicable laws and regulations
Establishing, implementing and maintaining a risk management system
Ensuring that adequate due diligence is properly performed
Providing reporting to the governing bodies of the AIFM and the AIF, the CSSF and other relevant parties
Valuation Services
Establishing and maintaining policies and procedures to ensure a sound, transparent, comprehensive and appropriately documented valuation processes, in accordance with the valuation principles set forth in the fund documents
Assessing and proposing adequate valuation methodologies and supervising the valuation of the fund and the fund shares by the AIF’s fund administrator
Compliance Services
Ensuring that the AIFM and the corresponding AIFs are managed, operated and administered in accordance with all applicable laws and regulations
Ensuring that internal policies are complied with and that other service providers to the AIF (notably the Registrar and Transfer Agent and, where applicable, distributors) maintain procedures and policies to ensure compliance of their respective activities and duties
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