Sun, May 27, 2018
A A A
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. Investing - Hedge funds hike Smurfit Kappa positions amid takeover deal hopes, Hedge fund IBV Capital digs deep to unlock long-term value in a competitive market, Eisman of 'The Big Short' fame recommends shorting Deutsche Bank[more]

    Hedge funds hike Smurfit Kappa positions amid takeover deal hopes From Irishtimes.com: Two US hedge funds, Davidson Kempner and York Capital, have accumulated a combined 4.74 per cent interest in cardboard box maker Smurfit Kappa using financial derivatives. It comes as many investors cl

  2. Foundations of hedge fund managers gave big to controversial donor-advised funds[more]

    In the world of philanthropy and tax-deductible charitable giving, the explosion of donor-advised funds has touched off intense debate. Now, there is evidence that the DAF boom is being further fuelled by hedge fund foundation money. Four of the top five foundations that gave the most to large do

  3. Third Point to raise $400 million for SPAC, Farley to run it[more]

    From Reuters.com: Daniel Loeb's hedge fund Third Point LLC plans to raise $400 million for a "blank check" company which will be run by outgoing stock market operator NYSE Group President Thomas Farley, according to a regulatory filing made on Tuesday. The new company, referred to on Wall Stre

  4. Study: For hedge funds, smaller is better[more]

    From Institutionalinvestor.com: The smaller the hedge fund is, the better its performance is likely to be, according to a new study. The study - "Size, Age, and the Performance Life Cycle of Hedge Funds," released April 26 - sought to determine whether a hedge fund's size and age had any effect on i

  5. Hedge fund returns rose in April for first gain since January[more]

    From Bloomberg.com: Bloomberg Hedge Fund Database shows returns flat this year - Currency strategies had the biggest monthly gain at 13% Hedge fund returns increased 0.78 percent in April, reversing two consecutive monthly declines. The swing of 134 basis points was driven by gains in all seven