On 4 October 2018, ESMA updated its AIFMD Q&As regarding cross-border notifications. The new Q&A confirms that an AIFM intending to manage an EU umbrella AIF on a passported cross-border basis pursuant to Article 33 of AIFMD must, in its notification, identify the umbrella AIF as well as the name and investment strategy of its subfunds to facilitate the administrative procedure in both the home and host states. Any change in the composition of an umbrella AIF managed on a cross-border basis must be notified to the competent authorities pursuant to Article 33 (6) of AIFMD.