Marketing is (indirectly) offering for sale or placing shares of a fund to or with investors domiciled or with a registered office in the EU.
Key Points:
Initiation: Marketing activities are initiated by the AIFM (Roundtable).
Content: Marketing provides final information about the fund, including its structure, investment strategy, risks, and potential returns. It allows investors to make a final investment decision. The concept of marketing varies within the EU. It should be assumed that discussing about a fund that is established can often amount to marketing.
Commitment: Investors may commit / subscribe to a fund which is in marketing. Such commitment can be binding on the investor.
Costs: Additional fees cannot be excluded when marketing in several EU countries.