On 12 August 2015 the Central Bank updated its AIFMD Q&A. A new question has been added which concerns the definition of Feeder AIF in the AIFM Regulations.

Feeder AIF is defined in the Regulations as an AIF which invests at least 85% of its assets in another AIF.

The updated Q&A clarifies that the reference to ‘assets’ in the definition of Feeder AIF can be understood to refer to committed capital provided the QIAIF remains closed for redemptions during the capital commitment period.