Sat, Jul 23, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Deacon's note explains impact of AIFMD for Hong Kong fund managers

Wednesday, June 05, 2013

Beverly Chandler, Opalesque London: Su Cheen Chuah of Hong Kong based law firm Deacons has written a timely note on the potential impact of Europe’s AIFMD on Hong Kong based managers.

Chuah writes: "The Alternative Investment Fund Managers Directive (AIFMD) is a European Union (EU) Directive which introduces a new regime to regulate alternative investment fund managers (AIFMs) with the aim of increasing investor protection while reducing systemic risk. It must be implemented into the national laws of EU Member States by 22 July 2013."

Fundamentally, changes introduced by the AIFMD include the requirement for the authorisation of certain AIFMs, and the imposition of certain organisational requirements and compliance obligations on AIFMs together with continuing reporting and disclosure obligations.

Beyond that, the AIFMD introduces an EU passport system for the marketing of alternative investment funds (AIFs) and it is here that an AIFM can market its funds to professional investors across the EU Member States on the back of authorisation in a single EU Member State. Chuah writes: "Although initially only applicable to EU AIFMs managing EU AIFs, from July 2015 the passport system may be extended to permit non-EU AIFMs authorised in accordance with the requirements of the AIFMD to market all AIFs to "professional investors" across the EU."

Chuah identifies five frequently asked questions Hong Kon......................

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. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. Europe - European hedge funds shrink and shutter as turmoil hurts returns, Investors go bargain-hunting for U.K. property after Brexit vote, Brexit: Guidance for fund directors - what to know and what to ask[more]

    European hedge funds shrink and shutter as turmoil hurts returns From Bloomberg.com: Europe’s hedge-fund industry contracted for a sixth straight quarter as the U.K.’s decision to leave the European Union and concerns that China’s growth is slowing caused losses and forced some money man

  4. Platinum Partners starts liquidation of hedge funds following municipal union kickback scandal[more]

    Komfie Manalo, Opalesque Asia: Platinum Partners, the hedge fund in the middle of a New York City municipal union kickback investigation, is reported to be liquidating two of its funds, the New

  5. SWFs - Abu Dhabi wealth fund says long-term investment gains fell[more]

    From Bloomberg.com: The Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, said its long-term gains dropped in 2015. The fund’s 20-year annual rate of return slowed to 6.5 percent at the end of 2015, from 7.4 percent a year earlier, it said in its annual review. Over