Tue, Sep 2, 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

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. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing Square, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the

  2. Comment – Why you should avoid the hottest hedge fund hands, Swedroe attacks Hussman over risk management, relative value strategy[more]

    Why you should avoid the hottest hedge fund hands FromCNBC/Yahoo.com: Investors who don't have money with Pershing Square Capital Management are likely salivating at the hedge fund's industry-leading 26 percent return from January through July. But investing with Bill Ackman and other to

  3. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest

  4. Ex-UBS prop trader's hedge fund Manikay Partners eyes UK launch[more]

    From eFinancialnews.com: Manikay Partners, a $1.7 billion US multi-strategy hedge fund set up in 2008 by a proprietary trader from UBS with backing from Goldman Sachs, is planning to open in the UK. New York-based Manikay's move into Europe comes after Financial News revealed on Monday that Aurelius

  5. Big hedge funds tighten grip amid consolidation[more]

    From Asianinvestor.net: The hedge fund industry consolidated last year with the number of funds falling by around a tenth from 2012 but assets under management rising $248.8 billion to $2.6 trillion, finds a new report from research firm eVestment. Firms with more than $1 billion in hedge fund A