Sat, Mar 17, 2018
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

As deadline approaches attitudes mixed on AIFMD

Wednesday, June 25, 2014

Bailey McCann, Opalesque New York:

The Alternative Investment Fund Managers Directive (AIFMD) in Europe is approaching its July 22 authorization deadline, with some big operational questions still unanswered. Funds were meant to have filed with the European regulator ESMA by the deadline although reports have emerged of a bottleneck as funds rushed to the finish line. Other questions remain on segregation at prime brokerages. Even as the deadline draws ever closer, funds appear to be mellowing slightly on their view of the directive.

A recent survey from service provider Multifonds suggests that managers are entering the resignation phase of the grief process. Depository costs have dropped to between 2-25bps, a significantly lower figure than the 30-40bps originally predicted. Harmonization with US regulations has also made some parts of AIFMD easier to swallow.

Fund personnel and marketing efforts that now have to be adjusted with implementation of the Directive are prompting conversations about overall business plan and messaging consistency within funds according to Christopher Stuart Sinclair, Director Risk Services – Deloitte Luxembourg and Chairman of ALFI's Oversight Duties Working Group.

"Funds will have to evaluate their overall business plan and determine who it is best suited for, and if they are foreign managers they will have to further decide if they want to deal with the compliance overhead of the Directive to raise assets in Europe. Addition......................

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. Performance - Hedge fund mojo is back with investor hopes at six-year high, These hedge funds produce the most consistently great results[more]

    Hedge fund mojo is back with investor hopes at six-year high From Hedge funds on the heels of a surprisingly strong performance in 2017 are raising hopes for an encore. Investors expect their managers to return 8.5 percent in 2018, according to a Credit Suisse Group AG sur

  2. Investing - Hedge funds amass big bets against world's leading advertisers, Investor Elliott Management buys tiny stake in Wipro[more]

    Hedge funds amass big bets against world's leading advertisers From Hedge funds have amassed bearish bets of more than $3bn against the world's largest advertising companies in an attempt to profit as the industry undergoes ongoing wrenching disruption and slowing growth. Funds i

  3. News Briefs - Investcorp to launch a $100 million PE fund for Omani pension funds[more]

    Bahrain-based investment firm Investcorp will soon launch a $100 million fund dedicated to Oman's Pension Funds as part of its investment plan. 'The Opportunities Fund' will be focused on private equity investments in the U.S. and Europe and will target mid-sized companies across a broad range of se

  4. DoubleLine's Gundlach sees U.S. 10-year Treasury yield rising, weighing on stocks[more]

    From Reuters/ Jeffrey Gundlach, the chief executive of DoubleLine Capital and known on Wall Street as the "Bond King," said on Tuesday the yield on the U.S. 10-year Treasury note will likely move higher and pressure riskier assets including equities and junk bonds. Gundlach, on an

  5. SEC charges Theranos CEO Holmes with fraud[more]

    Bailey McCann, Opalesque New York: The SEC has charged Elizabeth Holmes, founder and CEO of Theranos and its former President Ramesh "Sunny" Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about t