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Beverly Chandler, Opalesque London: Investment software provider Multifonds has published its white paper, entitled: The impact of AIFMD and convergence survey. Key findings from the survey include:

• 83% of respondents agree convergence of traditional and alternative funds will continue
• 64% of respondents view depositary liability as the most challenging aspect of AIFMD
• 59% of respondents believe that AIFMD will become an international standard for distributing AIFs globally, similar to the UCITS brand
• 83% of respondents feel confident about their state of readiness, claiming to be ready between now and the July 2013 deadline
• 88% of respondents think that existing managers will take advantage of the grace period until July 2014
• Of the funds managers responding, 43% already have a depositary in place and a further 43% are in discussion with a depositary
• Luxembourg and Ireland are likely to be the most successful onshore EU domiciles under AIFMD for attracting new business or funds re-domiciling
• 70% of respondents agree that non-EU managers will set up European operations to take advantage of AIFMD
• 77% of respondents think that EU managers may choose to set up offshore structures to avoid AIFMD costs
• 52% of respondents have seen a rise in the costs of implementing AIFMD since the release of the Level 2 text
• Depositary costs continue to be a concern, with 41% of respon......................

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