Now that the initial work on the identification of AIFMs has been undertaken, fund managers may wish to consider amendments to fund documents to incorporate the following features:

1. Management agreements and administration agreements appointing managers of managed entities should clearly identify the AIFM and should contain a detailed list of services, in particular relating to risk management and portfolio management.
2. Administrators should consider amending their administration agreements to identify and, where appropriate, exclude responsibility for acting as depositary.
3. Certified Funds Prospectuses Order.

The transitional period for the Certified Funds Prospectuses Order (which came into force on November 18 2012) is due to expire in November 2013.

Any fund that is currently marketing such funds, but availing of the transitional period, must update its offer document to ensure compliance with the order before then.