Question: can an aifm be a mifid firm?
Answer: A. An entity authorised as an AIFM may not be authorised under MiFID but may, under Article 6(4) of AIFMD, be authorised to carry out “management of portfolios...in accordance with mandates given by investors on a discretionary, client-by-client basis”. Therefore, an AIFM may manage AIFs and managed accounts.