Depositary - UCITS V Provision

You should definitely also check out Depositary in the context of AIFMD.

The difference in liability for depositaries between AIFMD and UCITS is that
(i) liability can't be contractually excluded under UCITS V, and
(ii) UCITS V prospectuses must contain a description of any safekeeping arrangements delegated, identification of the delegate, and any conflict of interest that may arise.