Fri, Aug 26, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

IMA welcomes UK FSA's new Funds of Alternative Investment funds (FAIFS) regime

Friday, February 26, 2010
Opalesque Industry Update - The Investment Management Association (IMA) welcomes today's publication by the FSA of the new rules for Funds of Alternative Investment Funds (FAIFs). FAIFs are UK authorised funds that are able to be invested in a wider range of underlying funds, with appropriate investor safeguards. The new regime comes into effect from 6 March 2010.

The FSA has taken on board IMA's earlier comments to allow for flexibility in fund structure alongside the necessary investor protection measures.

The new rules also provide for a feeder fund for corporate investors to gain access to the new tax efficient authorised property fund (PAIFs) regime.

Julie Patterson, Director of Authorised Funds & Tax at the IMA, commented:

"The introduction of FAIFs is good news for product innovation and investor choice because it enables investors to gain access to a wider range of investments. We also welcome the production by the FSA of a factsheet on FAIFs for intermediaries.

"The new regime will enhance the UK's position as a domicile for a wider range of funds. Today's publication is the culmination of much hard work by the authorities and the Investment Management Association."

The IMA is the trade body for the UK's £3 trillion asset management industry. Source.

Financial Services Authority's Funds of Alternative Investment Funds (FAIFs)- summary of changes: Source.


Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. Institutional investors - Investors set to increase allocation to private debt, With investment income key, Richmond retirement system faces funding challenges[more]

    Investors set to increase allocation to private debt Investors are set to increase their allocation to private debt, with 60% revealing they believe the private debt market will grow over the next 12 months, according to a new study by Elian, a leading funds services provider. 41%

  2. Investing - Hedge funds snap up banks, unload Apple, Some of hedge funds' favorite stocks are finally starting to beat the market, Einhorn's Greenlight shifts positions, Treasury yield climbs to two-month high as Fischer joins hawks, 9 stocks smart investors put their money in last quarter[more]

    Hedge funds snap up banks, unload Apple From Barrons.com: Prominent hedge funds have a newfound love of big banks, and some have a distaste for shares of Apple, regulatory filings released last week show. The filings suggest that the funds have been pivoting their portfolios in recent mon

  3. Chesapeake energy seeks $1 billion loan to refinance debt[more]

    From Bloomberg.com: Chesapeake Energy Corp. is seeking a $1 billion loan as the company battered by cratering fuel prices and credit downgrades takes a step to address its $9 billion debt load. The natural gas producer hired Goldman Sachs Group Inc., Citigroup Inc. and Mitsubishi UFJ Financial Group

  4. Institutions - Nordic pension funds magnify focus on unlisted and direct investing, building up teams[more]

    From IPE.com: As bond yields remain at low or negative levels, pension funds and other institutional investors in the Nordic region are stepping up efforts to find higher returns by adding more unlisted investments to portfolios and are expanding in-house teams in order to do this, according to new

  5. Strategies - The 'Holy Grail' hedge fund strategy to handle a black swan the size of World War I, Hedge funds get more pushback on terms as enthusiasm for strategy wanes[more]

    The 'Holy Grail' hedge fund strategy to handle a black swan the size of World War I From IBTImes.co.uk: To illustrate a strategic gap common to today's portfolio managers, George Sokoloff, PhD, founder and CIO at Carmot Capital, proposes an interesting thought experiment – a breakdown of