AIFMD/UCITS enhanced service

Clearstream Banking¹ informs clients that from

1 August 2023

an enhanced optional service will be implemented for clients depositing Alternative Investment Fund Manager Directive (AIFMD) and Undertakings for Collective Investment in transferrable securities (UCITS) with Clearstream Banking and held through Clearstream Banking markets.

Service description

Clearstream offers an opt-in service allowing clients to segregate securities falling under AIFMD/UCITS obligations. Specific custody-surcharges apply to the assets held on these accounts. The surcharges are available in the Clearstream Banking Fee Schedule.

A Side Letter must be completed to opt-in to this service. The side Letter applies solely with respect to securities deposited by the Customer with Clearstream Banking in the Account(s) listed in scope, which can be amended from time to time at the instigation of and subsequent instruction from the Customer, and held through Clearstream Banking in the listed markets, which can be amended from time to time.  

By opting in to the service, clients represent and warrant that the account(s) contain, and shall at all times only contain, securities (as defined in the GTCs) which the client holds solely in its capacity as a depository bank of alternative investment funds, within the meaning of Directive 2011/61/EU of 8 June 2011 on Alternative Investment Fund Managers (“AIFMD”) and/or undertakings for collective investment in transferable securities, within the meaning of Directive 2009/65/EC as modified by Directive 2014/91/EU of 23 July 2014 (“UCITS V”).

Subscription 

To opt-in for the service, please contact your Relationship Manager for further information about completing the Side Letter.

Further information

For further information, clients may contact Clearstream Banking Client Services or their Relationship Officer.

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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG clients using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.