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Alternative Market Briefing

Asian asset managers lose interest in Europe because of AIFMD

Wednesday, June 27, 2012

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Matt Feldmann
From Komfie Manalo, Opalesque Asia: The pending implementation of the Alternative Investment Fund Manager Directive (AIFMD) is driving the majority of Asia-based asset managers to lose interest in Europe as an investment destination. This was the result of a joint survey by financial publication Asian Investor and international law firm Clifford Chance.

Matt Feldmann, partner at Clifford Chance, believes that the AIFMD, which is scheduled for implementation in 2013, is the primary concern of most Asian asset managers for erasing Europe off their radar. The effect of AIFMD is already being felt by many hedge funds and private equity firms in Asia that are finding it difficult to raise assets from European investors.

Feldmann said, "That, and with liquidity issues in Europe, many managers seem to think that Europe is not worth the bother."

At least 160 asset managers, asset owners and distributors of investment products from Asia participated in the joint survey.

Only 9% of the respondents said they would consider going to continental Europe, a steep decline from 20% last year. The UK in particular received only 5% positive response with 40% putting North America among their top-three destinations of global capital, while Asia ex-Japan and China/Hong Kong topped the charts.

"It shows people don’t expect to raise assets from......................

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