EFTA Document EFTA01451911

SOF III - 1081 Southern Financial LLC The AIFM Directive became effective in July 2011 and was required to have been implemented by EU Member States by July 22, 2013. Before the AIFM Directive can be implemented in each individual EU Member State, detailed implementing measures must be drawn up and adopted by the legislative body of that EU Member State. Details of the full impact of the Directive on the operation of the Master Fund and the Feeder Funds will not be known until those implem