Related provisions for SYSC 4.1.2D
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The base own funds requirement is: (1) EUR 125,000 for a firm that is a UCITS management company or a full-scope UK AIFM that is an external AIFM; and(2) EUR 300,000 for a full-scope UK AIFM that is an internally managed AIF.[Note: article 9(1), (2) and (10) of AIFMD and article 7(1)(a) of the UCITS Directive]
A collective portfolio management firm that manages an AIF is an internally managed AIF or an external AIFM. If the firm is a full-scope UK AIFM this affects the firm'sbase capital resources requirement (see IPRU-INV 11.3.1R). An internally managed AIF that is a full-scope UK AIFM is not permitted to engage in activities other than the management of that AIF, whereas an external AIFM that is a full-scope UK AIFM may manage
1Subject to the exemptions in SYSC 10A.1.4R, this chapter applies to a firm:(1) that is a:(a) UK MiFID investment firm; or(b) full-scope UK AIFM; or(c) small authorised UK AIFM or residual CIS operator; or(d) incoming EEA AIFM; or(e) UCITS management company; or(f) MiFID optional exemption firm, performing activities covered by the exemption; or(g) EEA MiFID investment firm; or(h) third country investment firm; or(i) that carries on activities referred to in the general application