On 5 April 2016, ESMA published an updated version of its Q&A paper on the application of the Alternative Investment Fund Managers Directive

The Q&As have been updated to include a question on whether, where an EU AIF decides to offer additional fund units to investors, and the offer is limited to the investors already invested in the AIF, the AIFM must submit a new notification to the national competent authority in accordance with Article 31(2) of AIFMD. The answer is "No".