Wed, Apr 23, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Cayman preps funds to be marketed under EU's AIFMD

Wednesday, March 27, 2013

Bailey McCann, Opalesque New York: The Cayman Islands government has passed an amendment that will allow its financial services regulator to enter into a memoranda of understanding (MoU) with the European Securities Markets Authority (ESMA). The amendment will allow the country to prepare itself for the marketing of Cayman hedge funds in compliance with the Alternative Investment Fund Managers Directive (AIFMD). The report follows another noted by Opalesque earlier today, which outlines similar preparations happening in the UK.

Under the Monetary Authority (Amendment) Law, newly passed in the Caymans, the Cayman Islands Monetary Authority (CIMA), the country's financial regulator, will now be able implement the requirements necessary to market funds in the EU. 'Without the amendment to the law, about 26% of Cayman’s funds would have been blocked from being marketed in the EU’, explained the Minister for Financial Services, the Hon. Rolston Anglin, in a statement.

Now, with the amendment the country will be able to move forward with marketing, and will also harmonize its international agreements within Europe, as it already had one in place in the UK.

The AIFMD comes into force on 22 July 2013, for funds to market their products to EU th......................

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. …And Finally – Flight attendant has passengers rolling in aisle[more]

    From Orange.co.uk: A video of a US flight attendant turning her safety talk into a comedy routine is proving a huge hit online. More than five million people have watched the clip of Marty Cobb which has her passengers rolling with laughter on a Southwest Airlines flight to Salt Lake City.

  2. Niche Investing – Wealthy investors flock to fine art funds[more]

    From Clickorlando.com: Wealthy investors looking to diversify beyond stocks and bonds are now turning to an unusual money-making vehicle -- the art investment fund. The name says it all: These funds invest in fine art and seek returns by acquiring and selling high-end pieces for profit. Growth

  3. University of Michigan allocates $242m to six managers[more]

    From PIonline.com: University of Michigan, Ann Arbor, invested or committed a total of $242 million to one traditional equity manager and five alternative investment funds from its $9 billion endowment. University regents approved the hire of Mittleman Investment Management to run $35 million in act

  4. Performance – Odey flagship hedge fund suffers brutal March as shorts rise, Blackstone first-quarter profit rises 30% on higher fees[more]

    Odey flagship hedge fund suffers brutal March as shorts rise From Valuewalk.com: The tide has turned for the worse for one of Europe’s best performing hedge funds. Crispin Odey’s flagship hedge fund, Odey European has suffered a 4.63% decline for the year after slipping 7.2% in March, ac

  5. Agecroft Partners estimates 90% of hedge funds using social media[more]

    The use of social media has increased significantly within the hedge fund industry over the past couple of years. Social media is broadly used by investors as part of their due diligence process on hedge funds, by service providers in their sales efforts to hedge funds, and by hedge funds to enhance