AIFMD Directive Explained: What Fund Managers Need to Know in 2025
Understand the scope, reporting requirements, and deadlines of the AIFMD Directive. Including what Annex IV reporting means for your fund.
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700B+ AUM reported annually through our reporting platform
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550+ Fund managers and over 4,000 Funds serviced by Matterhorn
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15K+ Reports filed annually to all regulators in the EU/UK
What Is the AIFMD Directive?
The Alternative Investment Fund Managers Directive (AIFMD) is a key EU regulation that governs how alternative investment fund managers operate within Europe. It sets strict rules around transparency, risk management, and investor protection.
One of the core requirements under AIFMD is the submission of detailed Annex IV reports to local regulators – covering fund structure, assets, exposures, and risk metrics.
Where and How Do You Submit AIFMD Reports?
Annex IV reports must be submitted to the national competent authority (NCA) in each EU country where your fund is registered or marketed. For example:
In the Netherlands: AFM (Autoriteit Financiële Markten)
In Luxembourg: CSSF
In Ireland: Central Bank of Ireland
Each authority has its own submission portal, deadlines, and format – but in all cases, reports must follow the Annex IV template and include key data on:
Fund assets and investment strategy
Risk exposure and leverage
Investor breakdown
Fund structure and service providers
⚠️ Important: Non-EU fund managers must also report if they market to EU investors under national private placement regimes (NPPR).
Do I need to Comply With AIFMD?
The AIFMD Directive applies to:
EU-based Alternative Investment Fund Managers (AIFMs)
Non-EU AIFMs marketing funds to EU investors
Fund administrators and compliance teams supporting AIFs
Whether you’re managing one fund or an entire portfolio, AIFMD compliance is not optional—it’s a regulatory requirement.
Can I Handle AIFMD Reporting Myself?
AIFMD Annex IV reporting requires deep knowledge of fund structures, regulatory formats, and strict XML submission standards. Mistakes can lead to rejected reports or regulatory fines.
Many fund managers choose to use a tool or work with a compliance partner to reduce risk, save time, and stay audit-ready.
HOW IT WORKS
A Proper AIFMD Reporting Process: Step by Step
Complying with AIFMD requires a structured process that ensures completeness, accuracy, and regulatory alignment. Whether you report internally or work with a provider, a reliable AIFMD reporting process includes the following steps:
1. AIFMD Reporting Obligations
Start by determining your reporting obligations: which entities fall under AIFMD, which jurisdictions apply, and how often reports are due.
2. Data Collection and Mapping
Collecting the right data is critical. Fund and manager data must be mapped to the ESMA format and enriched with look-throughs, risk exposures, and counterparty info.
3. Report Generation & Validation
Annex IV reports must be submitted in strict XML format, and validated to meet both EU and national rules.
4. Review, Approval & Submission
Each report must be reviewed, signed off, and filed on time. Oversight, audit trail, and regulator contact must be in place.
How Matterhorn Can Help With AIFMD Reporting
Whether you're tackling AIFMD reporting for the first time or looking to streamline a recurring process: Matterhorn offers two flexible solutions:
✅ Full Service Support
Outsource your AIFMD reporting — without losing control.
Stop spending time and resources wrestling with Annex IV reporting. Matterhorn’s Managed Service gives you a full team of reporting experts and a secure platform to handle the process from start to finish — while you stay in control.
We handle the entire workflow:
Encrypted data exchange with bank-grade security
Setup & data integration included — up and running in under a week
Expert report preparation based on jurisdictional requirements
Client review & sign-off built into the platform
Direct submission & real-time tracking for all EU/UK regulators
🧠 Used by leading fund service providers across Europe to report over 15,000 Annex IV filings each year.
✅ Self Service Tool
Save time. Reduce errors. Stay in control of AIFMD reporting.
Matterhorn’s intuitive AIFMD Annex IV Reporting Software is designed for fund service providers who want full control — without the manual hassle.
No more spreadsheets, no more trial-and-error XML files. Our self-service platform guides you through every step of the reporting process:
Smart templates with built-in validations and regulatory logic
Real-time error checks and automatic XML generation
One-click submission to any EU/UK National Competent Authority (NCA)
Always up-to-date with ESMA and NCA requirements
Scalable setup — manage hundreds of AIFs in one interface
💡 Used by 550+ fund managers and 4,000+ funds. Over 15,000 reports filed annually across Europe.
Frequently Asked Questions (FAQ)
What is the AIFMD Directive in simple terms?
The AIFMD Directive is an EU regulation that oversees alternative investment fund managers. It ensures they manage risks properly and disclose key information to regulators and investors.
Who needs to report under the AIFMD Directive?
All EU-based AIFMs and non-EU AIFMs marketing to EU investors must report under AIFMD. This includes hedge funds, private equity firms, real estate funds, and other alternative investment vehicles.
What is Annex IV reporting?
Annex IV reporting is a core part of AIFMD compliance. It involves submitting detailed fund data—such as asset allocation, risk metrics, and investor information—to your regulator.
How often do I need to submit AIFMD reports?
The frequency depends on your fund’s size and assets under management (AUM). Reports are typically required quarterly, semi-annually, or annually.
Can Matterhorn help with my first AIFMD filing?
Yes. We specialize in supporting first-time filers, offering both strategic guidance and technical assistance to ensure your submission is accurate and compliant.
Why Choose Matterhorn?
Trusted by leading asset managers and funds
Fully compliant with ESMA and local regulatory standards
Dedicated support for first-time filers and small fund managers
End-to-end solution with transparent pricing
Get Started With AIFMD Compliance Today
If you’re just beginning your journey with the AIFMD Directive, Matterhorn makes compliance stress-free. Book a free consultation today and let’s simplify your reporting process together.
