{"product_id":"aifmd-ii-laneutgivande-aif-riskretention-2026","title":"AIFMD II 2026 – borrowing AIFs, 5% risk retention and fund control | Word\/PDF\/Excel","description":"\u003cdiv class=\"mb-product-copy\"\u003e\n\n\u003cp\u003e\u003cstrong\u003eDo you manage an alternative investment fund that grants or acquires loan exposures?\u003c\/strong\u003e From \u003cstrong\u003e1 July 2026\u003c\/strong\u003e, a new Swedish regulatory framework for lending by alternative investment funds will apply. With this specialist package, AIF managers can document applicability and transitional rules, screen prohibited borrowers, monitor retained exposure when selling loans, and review leverage and concentration risks.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eLegal basis:\u003c\/strong\u003e the Swedish Act (2013:561) on Managers of Alternative Investment Funds (LAIF), as amended by \u003cstrong\u003eSFS 2026:910\u003c\/strong\u003e, particularly \u003cstrong\u003eChapter 1, Section 11, Chapter 8, Section 4, and Chapter 8a, Sections 1–12\u003c\/strong\u003e. The EU background is \u003ca href=\"https:\/\/eur-lex.europa.eu\/eli\/dir\/2024\/927\/oj\/swe\"\u003eAIFMD II, Directive (EU) 2024\/927\u003c\/a\u003e. The product is a practical control package, \u003cstrong\u003enot a fund authorization application, FI certification, or actual credit\/NAV review\u003c\/strong\u003e.\u003c\/p\u003e\n\n\u003cdiv style=\"border:2px solid #94B8CE;background:#EFF6FB;border-radius:10px;padding:17px 20px;margin:19px 0\"\u003e\n\n\u003ch2\u003ePackage Contents\u003c\/h2\u003e\n\n\u003cp\u003e\u003cstrong\u003e01\u003c\/strong\u003e Fund classification and legacy portfolio; \u003cstrong\u003e02\u003c\/strong\u003e borrower control and 20-percent limit; \u003cstrong\u003e03\u003c\/strong\u003e loan sales and 5 percent risk retention; \u003cstrong\u003e04\u003c\/strong\u003e NAV, leverage, and open\/closed fund; \u003cstrong\u003e05\u003c\/strong\u003e board\/investment committee decision and action plan; \u003cstrong\u003e06\u003c\/strong\u003e Swedish user guide; \u003cstrong\u003e07\u003c\/strong\u003e English User Guide for the Swedish templates. All seven documents are available as both editable \u003cstrong\u003eWord (DOCX)\u003c\/strong\u003e and searchable \u003cstrong\u003ePDF\u003c\/strong\u003e. This also includes \u003cstrong\u003e08 Excel register with nine tabs\u003c\/strong\u003e. \u003cstrong\u003eTotal 7 Word + 7 PDF + 1 Excel = 15 customer files.\u003c\/strong\u003e\u003c\/p\u003e\n\n\n\u003c\/div\u003e\n\n\u003cdiv style=\"border:2px solid #94B8CE;background:#EFF6FB;border-radius:10px;padding:17px 20px;margin:19px 0\"\u003e\n\n\u003ch2\u003eWhat the Files Contain\u003c\/h2\u003e\n\n\u003cp\u003eBasis for direct and indirect loans, classification as a lending AIF (primary lending strategy or at least 50% nominal loans relative to NAV), eligible borrowers, concentration calculation for certain counterparties, 5-percent retention, special eight-year rules, 175\/300-percent leverage limits, shareholder loans, legacy funds\/loans, and special transitional dates. The work templates include \u003cstrong\u003edecision gates, deviation scenarios, documentary evidence, an action plan, and sign-off fields\u003c\/strong\u003e. Excel uses de-identified fund and loan IDs.\u003c\/p\u003e\n\n\n\u003c\/div\u003e\n\n\u003ch2\u003eTarget Audience and Use\u003c\/h2\u003e\n\n\u003cp\u003eFor Swedish \u003cstrong\u003eAIF managers, alternative credit funds, private debt and corporate loan funds\u003c\/strong\u003e, as well as risk functions, compliance, investment committees, and fund lawyers. The regulatory framework must first be assessed against the manager's authorization or registration: a registered manager below the thresholds is not automatically covered by all provisions in Chapter 8a. The structure of the individual AIF and any sectoral or EU fund rules may change the result.\u003c\/p\u003e\n\n\u003ch2\u003eThe Eight Document Types\u003c\/h2\u003e\n\n\u003cdiv style=\"overflow-x:auto\"\u003e\u003ctable\u003e\n\n\u003cthead\u003e\u003ctr\u003e\n\n\u003cth scope=\"col\"\u003eTemplate\u003c\/th\u003e\n\n\u003cth scope=\"col\"\u003ePractical Function\u003c\/th\u003e\n\n\u003cth scope=\"col\"\u003eLanguage and Format\u003c\/th\u003e\n\n\n\u003c\/tr\u003e\u003c\/thead\u003e\n\n\u003ctbody\u003e\n\n\u003ctr\u003e\n\n\u003ctd\u003e01 Fund Classification and Legacy Loans\u003c\/td\u003e\n\n\u003ctd\u003eDetermines whether the fund is a lending AIF, inventories direct\/indirect loans, and assesses dates, capital raising, and transitional provisions.\u003c\/td\u003e\n\n\u003ctd\u003eSwedish · DOCX + searchable PDF\u003c\/td\u003e\n\n\n\u003c\/tr\u003e\n\n\u003ctr\u003e\n\n\u003ctd\u003e02 Borrowers and 20% Limit\u003c\/td\u003e\n\n\u003ctd\u003eAssesses prohibitions on certain related borrowers and concentration limits for specific financial firms\/funds.\u003c\/td\u003e\n\n\u003ctd\u003eSwedish · DOCX + PDF\u003c\/td\u003e\n\n\n\u003c\/tr\u003e\n\n\u003ctr\u003e\n\n\u003ctd\u003e03 Loan Transfer and 5% Retention\u003c\/td\u003e\n\n\u003ctd\u003eMonitors remaining exposure per relevant loan, retention period, and special legal exceptions.\u003c\/td\u003e\n\n\u003ctd\u003eSwedish · DOCX + PDF\u003c\/td\u003e\n\n\n\u003c\/tr\u003e\n\n\u003ctr\u003e\n\n\u003ctd\u003e04 NAV, Leverage, and Fund Type\u003c\/td\u003e\n\n\u003ctd\u003eMonitors open\/closed credit funds, 175% and 300% exposure\/NAV, and open fund requirements.\u003c\/td\u003e\n\n\u003ctd\u003eSwedish · DOCX + PDF\u003c\/td\u003e\n\n\n\u003c\/tr\u003e\n\n\u003ctr\u003e\n\n\u003ctd\u003e05 Decision Minutes\u003c\/td\u003e\n\n\u003ctd\u003eConsolidates risk and legal review into a STOP\/INVESTIGATE\/action decision with sign-off.\u003c\/td\u003e\n\n\u003ctd\u003eSwedish · DOCX + PDF\u003c\/td\u003e\n\n\n\u003c\/tr\u003e\n\n\u003ctr\u003e\n\n\u003ctd\u003e06 Swedish User Guide\u003c\/td\u003e\n\n\u003ctd\u003eWorkflow, legal sources, transitional rules, and synthetic control cases.\u003c\/td\u003e\n\n\u003ctd\u003eSwedish · DOCX + PDF\u003c\/td\u003e\n\n\n\u003c\/tr\u003e\n\n\u003ctr\u003e\n\n\u003ctd\u003e07 English User Guide\u003c\/td\u003e\n\n\u003ctd\u003eEnglish instructions explaining the five Swedish documents and Swedish workbook.\u003c\/td\u003e\n\n\u003ctd\u003eEnglish · DOCX + PDF\u003c\/td\u003e\n\n\n\u003c\/tr\u003e\n\n\u003ctr\u003e\n\n\u003ctd\u003e08 AIFMD II Excel Register\u003c\/td\u003e\n\n\u003ctd\u003eNine tabs for funds, loans, counterparties, concentration, retention, leverage, actions, and overview.\u003c\/td\u003e\n\n\u003ctd\u003eSwedish · XLSX\u003c\/td\u003e\n\n\n\u003c\/tr\u003e\n\n\n\u003c\/tbody\u003e\n\n\n\u003c\/table\u003e\u003c\/div\u003e\n\n\u003ch2\u003eExcel – Nine Tabs with Indicative Calculations\u003c\/h2\u003e\n\n\u003cp\u003e\u003cstrong\u003eFund Profile, Loans, Counterparties, Concentration, Retention, Leverage, Actions, Overview, and Read Me.\u003c\/strong\u003e You can enter source-controlled amounts for nominal loans and investable fund capital, original and remaining loan amounts, fund exposure, and NAV. Excel calculates \u003cem\u003eindicative ratios\u003c\/em\u003e and displays eight aggregation indicators. Each status has its own control, and eight synthetic error types have been tested.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eImportant:\u003c\/strong\u003e A calculated ratio on the correct side of a limit does not mean that the fund legally meets the requirements. The manager must independently verify the exposure calculation method, that the correct borrower category has been selected, the actual retention period, applicable exceptions, and transitional provisions. An empty register shows zero and does not imply approval.\u003c\/p\u003e\n\n\u003ch2\u003eThe Regulatory Framework – Key Differences\u003c\/h2\u003e\n\n\u003cp\u003e\u003cstrong\u003eThe definition of a lending AIF:\u003c\/strong\u003e according to \u003ca href=\"https:\/\/www.riksdagen.se\/sv\/dokument-och-lagar\/dokument\/svensk-forfattningssamling\/lag-2013561-om-forvaltare-av-alternativa_sfs-2013-561\/\"\u003eChapter 1, Section 11 of LAIF\u003c\/a\u003e is a fund whose investment strategy is primarily direct\/indirect loans, \u003cstrong\u003eor\u003c\/strong\u003e whose issued loans nominally correspond to at least 50% of NAV. Other AIFs that issue loans may also be covered by certain lending provisions.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003e20% is not a general credit limit:\u003c\/strong\u003e \u003cstrong\u003eChapter 8a, Section 1\u003c\/strong\u003e limits nominal loans to the same borrower to 20% of the fund's capital \u003cstrong\u003eonly when the borrower belongs to specially designated financial firms or fund categories\u003c\/strong\u003e. The start date of the limit, temporary deviations, and possible regulatory extensions are handled separately in Chapter 8a, Sections 2–4. Fund capital and NAV are not interchangeable terms.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eProhibited counterparties:\u003c\/strong\u003e \u003cstrong\u003eChapter 8a, Section 5\u003c\/strong\u003e prohibits loans to, among others, the manager and its personnel, the fund's custodian, certain delegated entities, and certain group companies, with a narrowly defined group exception.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003e5% risk retention:\u003c\/strong\u003e according to \u003cstrong\u003eChapter 8a, Sections 6–8\u003c\/strong\u003e, a fund may not have lending as a strategy solely to transfer away the exposure. As a general rule, the fund must retain at least 5% of the nominal amount of the relevant loan. The retention period varies: generally until maturity for loans under eight years or consumer loans, and at least eight years for longer loans to other borrowers. Exceptions and legacy loans must be checked individually.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eLeverage and open funds:\u003c\/strong\u003e according to \u003cstrong\u003eChapter 8a, Sections 9–11\u003c\/strong\u003e, lending AIFs must generally be closed; an open form may be used if special conditions are met. Leverage limits are normally \u003cstrong\u003e175% for open and 300% for closed funds\u003c\/strong\u003e, expressed as an exposure ratio against NAV according to the correct EU calculation method, with explicit special rules.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eImportant transitional rules:\u003c\/strong\u003e SFS 2026:910 applies from \u003cstrong\u003e1 July 2026\u003c\/strong\u003e. Funds formed before \u003cstrong\u003e15 April 2024\u003c\/strong\u003e and loans issued before that date have \u003cstrong\u003edifferent\u003c\/strong\u003e transitional provisions. Under certain conditions, special restrictions\/transitions apply until April 2029. There is therefore no general exemption for legacy funds. Check \u003ca href=\"https:\/\/svenskforfattningssamling.se\/doc\/2026910.html\"\u003eSFS 2026:910\u003c\/a\u003e and current LAIF.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eConsumer loans:\u003c\/strong\u003e \u003cstrong\u003eChapter 8a, Section 12\u003c\/strong\u003e contains a prohibition on consumer loans other than specially permitted credit forms. An amended wording comes into force on \u003cstrong\u003e20 November 2026\u003c\/strong\u003e. Verify the correct provision for agreements and the fund's actual operations; this template does not replace any credit law review.\u003c\/p\u003e\n\n\u003ch2\u003eHow to Use the Package\u003c\/h2\u003e\n\n\u003col\u003e\n\n\u003cli\u003eCheck authorization\/registration, the fund's definition, formation date, and relevant existing loan dates.\u003c\/li\u003e\n\n\u003cli\u003eInventory direct and indirect loans and separate the fund's capital from NAV.\u003c\/li\u003e\n\n\u003cli\u003eAssess prohibited counterparties and the 20% limit only in the affected counterparty categories.\u003c\/li\u003e\n\n\u003cli\u003eWhen selling loans: assess the 5% requirement per loan, retention period, exceptions, and transition.\u003c\/li\u003e\n\n\u003cli\u003eAssess whether the fund is a lending AIF, the liquidity requirements of the fund type, and the correct exposure ratio.\u003c\/li\u003e\n\n\u003cli\u003eCollect actual source evidence in a protected fund file and register only de-identified IDs in Excel.\u003c\/li\u003e\n\n\u003cli\u003eDocument STOP, INVESTIGATE, or the next approved control step with an authorized legal\/risk attestation.\u003c\/li\u003e\n\n\n\u003c\/ol\u003e\n\n\u003ch2\u003eFrequently Asked Questions\u003c\/h2\u003e\n\n\u003ch3\u003eDoes the 5-percent rule apply to every loan that is transferred?\u003c\/h3\u003e\n\n\u003cp\u003eAs a general rule, every relevant issued loan is assessed individually. The transitional rules for legacy loans and exceptions in Chapter 8a, Section 8 may affect the obligation. It is not enough for the fund to retain 5% of the portfolio in total.\u003c\/p\u003e\n\n\u003ch3\u003eCan the fund never lend more than 20% of the capital to one customer?\u003c\/h3\u003e\n\n\u003cp\u003eNo. The special 20% limit only applies to designated categories of financial firms and funds. Other loans still require risk management and compliance with other rules.\u003c\/p\u003e\n\n\u003ch3\u003eIs a lending AIF always a closed fund?\u003c\/h3\u003e\n\n\u003cp\u003eClosed form is the general rule. Chapter 8a, Section 9 contains conditions for open lending AIFs, including appropriate liquidity risk management and certain FI notification.\u003c\/p\u003e\n\n\u003ch3\u003eIf a fund was formed in 2023, does everything apply only in 2029?\u003c\/h3\u003e\n\n\u003cp\u003eNo. There are several different transition points. The fund's start date, new capital, existing June 2026 exposure, and each loan's issuance date can yield different results.\u003c\/p\u003e\n\n\u003ch3\u003eCan Excel automatically approve a loan sale?\u003c\/h3\u003e\n\n\u003cp\u003eNo. Excel only calculates specified ratios and control statuses. Approval requires actual documentation, legal review, credit risk assessment, and authorized attestation.\u003c\/p\u003e\n\n\u003ch3\u003eCan I use the package as an application to the Swedish Financial Supervisory Authority?\u003c\/h3\u003e\n\n\u003cp\u003eNo. It is an internal decision and control basis, not an official application, notification, or report.\u003c\/p\u003e\n\n\u003ch3\u003eAre the PDF files digitally fillable?\u003c\/h3\u003e\n\n\u003cp\u003eNo. PDF is searchable and printable, while Word and Excel are editable.\u003c\/p\u003e\n\n\u003ch3\u003eAre English work templates included?\u003c\/h3\u003e\n\n\u003cp\u003eNo. The five operational work templates and Excel are in Swedish; an English user guide describes how the files are used.\u003c\/p\u003e\n\n\u003ch2\u003eVersion, Sources, and Review Level\u003c\/h2\u003e\n\n\u003cp\u003e\u003csmall\u003e\u003cstrong\u003eVersion 1.0 · 12 November 2026 · Jurisdiction Sweden\/EU.\u003c\/strong\u003e The check against the Swedish Act (2013:561), SFS 2026:910, the forthcoming wording through SFS 2026:1021, Directive (EU) 2024\/927, \u003ca href=\"https:\/\/www.fi.se\/sv\/vara-register\/fffs\/sok-fffs\/2013\/201310\/202625\/\"\u003eFFFS 2026:25\u003c\/a\u003e, and Government Bill 2025\/26:186 has been performed with AI assistance. No external legal review, independent fund audit, recalculation of actual loan positions, customer credit review, or regulatory approval has been performed. Used only after business-specific review by an authorized fund lawyer and risk and compliance function. The product is an unpublished Shopify draft without customer file linkage in Digital Products.\u003c\/small\u003e\u003c\/p\u003e\n\n\n\u003c\/div\u003e","brand":"Svenska Dokumentmallar","offers":[{"title":"Default Title","offer_id":56600344658262,"sku":"AIFMD-LOAN-2026-V1","price":79.0,"currency_code":"SEK","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0827\/2373\/3846\/files\/01_AIFMD_lanefonder_huvudbild_1600.png?v=1794512110","url":"https:\/\/mallbutiken.se\/en\/products\/aifmd-ii-laneutgivande-aif-riskretention-2026","provider":"Mallbutiken","version":"1.0","type":"link"}