On March 29, the European Securities and Markets Association (ESMA) published an updated version of its questions and answers document (Q&As) on the application of the Alternative Investment Fund Managers Directive (AIFMD).

In their updated Q&As, ESMA has added the following under section VII:

  1. Q&A 6, on the treatment of short-term interest rate futures for the purposes of AIFMD leverage exposure calculations according to the gross and commitment methods; and
  2. Q&A 7, on how frequently an alternative investment fund manager should calculate the leverage of each EU alternative investment fund that employs leverage.

The updated Q&As are available here and its accompanying press release is available here.