Fund Distribution Alert 2022-11
Italy introduces a new category of non-professional investors for AIFs
Italy introduces a new category of non-professional investors for AIFs
The Italian Ministry of Economy and Finance (MEF) issued a new decree (Decree no. 19/2022), effective on 30 March 2022, which redefines the conditions for investing in alternative investment funds classified (AIFs) as reserved for professional investors in Italy.
The decree introduces a new category of non-professional investor which is eligible to invest in a reserved Italian AIF under the following conditions:
- the investor invests at least EUR 100,000 in the reserved AIF;
- the amount of EUR 100,000 does not represent more than 10% of the investor’s assets;
- the investment is made in the context of provision of investment advisory services (i.e., investment recommendations by authorized intermediaries).
The decree can be accessed in Italian here.
Passported AIFs domiciled in other EEA states are generally subject to the same restrictions as domestic Italian AIFs.
Please feel free to contact us should you require any additional information.
Contacts
Said Fihri
Partner
+352 22 51 51 7892
said.fihri@kpmg.lu
Stephanie Zedda
Director
+352 22 51 51 7271
stephanie.zedda@kpmg.lu
