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Alternative Market Briefing

AIFMD for American, Asian and other non-EU hedge fund managers

Tuesday, September 24, 2013

Beverly Chandler, Opalesque London:

The latest white paper from Global Perspectives covers AIFMD from the perspective of US, Asian and other non EU hedge fund managers.

Global Perspectives’ Shane Brett says AIFMD allows US and other non-European managers to continue marketing their funds into the EU, but it does impose three new requirements in order to do so.

  • Disclosure Reporting

    AIFMD requires non-EU managers to disclose information about themselves and their funds to both their investors and to European regulators. Non-EU managers must complete an annual report which must be provided to investors. This must contain total of remuneration paid to staff and details of the management fees of the fund. The disclosure requirements regarding remuneration will be a shock for many US managers. Nonetheless they are absolutely non-negotiable.

    Before investors come into the fund the non-EU manager must make specific information available to them regarding both fees and special arrangements in place with other investors. This means under AIFMD a fund’s side letters must be fully disclosed to all potential investors. Investors ......................

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