Wed, Oct 22, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Germany to broaden eligible assets for hedge funds, allows sale only to professional investors

Friday, August 17, 2012

Bailey McCann, Opalesque New York: The German Ministry of Finance has issued a draft bill of its proposal for implementing the Alternative Investment Fund Managers Directive (AIFMD) in the country. The AIFMD is a broad based set of financial regulations implemented by the European Commission in an effort to provide more proactive supervision over financial activities within the European Union in the wake of the 2008 crisis and subsequent Eurozone debt crisis. The draft bill was issued at the end of July.

According to a critical review of the bill by global law firm, Dechert, the draft bill will repeal the German Investment Act which implemented the 2009 UCITS directive. In addition 26 other acts have either been amended or adjusted in order to bring the country in line with AIFMD requirements. As part of the new bill, the draft provides for the creation of the "German Investment Code" (Kapitalanlagegesetzbuch – GIC), which will comprise the future legal framework for all investment funds in Germany.

New fund designations are also on the table - various provisions of the draft GIC distinguish between funds that only allow for non-individual investors, so-called "Special Investor Funds" (Spezialfonds), and funds that also allow for individual investors (Mutual Funds). There are several of these new fund designations, effecti......................

To view our full article Click here

Banner

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Commodities - Oil wreaking havoc on small-cap energy stocks sliding 36%[more]

    From Bloomberg.com: Owning almost anything in the U.S. stock market has been a losing proposition since September. Owning smaller energy companies has been a catastrophe. Hercules Offshore Inc. and Resolute Energy Corp. are among 19 oil-and-gas equities in the Russell 2000 Index that lost more than

  2. Investing - Hedge funds favor equity long/short, Strategic bond managers hedge against further high yield sell-off[more]

    Hedge funds favor equity long/short From Securitieslendingtimes.com: Equity long/short strategies will generate good returns for hedge funds in the future, according to a panel at this year’s Risk Management Association Conference on Securities Lending in Naples, Florida. Panellists Sand

  3. Legal - Ex-hedge fund analyst weeps as judge hands down 5 year sentence, Former Columbus investment manager Steven P. Moore indicted on theft charges, SEBI confirms ban for Hong Kong hedge fund, SEC announces enforcement action against compliance officer[more]

    Ex-hedge fund analyst weeps as judge hands down 5 year sentence From Hereisthecity.com: An ex-hedge fund analyst was sentenced to 5 years in prison for his role in insider-trading scheme. The New York Post reports that former hedge fund analyst Matthew Teeple was sentenced Thursday to fiv

  4. Goldman in talks to acquire IndexIQ[more]

    From Bloomberg.com: Can Goldman Sachs put ETF investors on a liquid diet? Goldman is in talks to acquire IndexIQ, Reuters has reported. Index IQ is a small exchange-traded-fund firm known mostly for products that replicate hedge fund strategies, called "liquid alternative" ETFs. While IndexIQ has 11

  5. Other Voices: CALPERS dilemma should be a warning to hedge funds wanting institutional investors[more]

    From Ian Hamilton, founder of IDS Group. A quick comment on the CALPERS’ disinvestment from the hedge fund market and the jitters it is causing. Pension Funds should not be sheep and follow CALPERS’ decision as the issues that CALPERS has with hedge fund investments are in many ways unique t