Real Estate Funds
For many years the Netherlands has been a domicile for real estate funds, regulated and non-regulated. Today, the AIFMD and UCITS V legislation require real estate managers to obtain authorization by the competent EU authority to be able or to continue to manage their real estate funds. Non-EU managers marketing Alternative Investment Funds or UCITS funds in the European Union may also fall within the scope of one of the two Directives.
The impact of the AIFMD or UCITS V legislation respectively on the real estate fund industry is considerable. Amongst others, the respective Directive may impose the appointment of a single depositary for the funds. At present, Darwin Depositary Services is acting as depositary for various funds investing in real estate.