The Alternative Investment Fund Managers Act (2013:561 – LAIF) regulates alternative investment fund managers (AIF managers) but only regulates alternative investment funds to a limited extent.
Those managing an alternative investment fund are to be regarded as an AIF manager. The definition of what constitutes an 'alternative investment fund' is provided in LAIF. This is a broad definition and embraces a number of different activities and types of investment fund. However, one precondition is that the fund does not require authorisation under the UCITS Directive; in such cases the Swedish UCITS Act applies.
Authorisation for, as well as registration and supervision of, alternative investment fund managers are regulated by LAIF. Further regulations can be found in, among other places, the Finansinspektionen's Regulations regarding Alternative Investment Fund Managers (FFFS 2013:10) and in Commission Delegated Regulation (EU) No 231/2013.