Sun, Dec 17, 2017
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. Mediobanca acquires majority stakes in Swiss hedge fund[more]

    Komfie Manalo, Opalesque Asia: Listed diversified banking group Mediobanca SpA said it has acquired a majority stake in Geneva-based hedge fund firm RAM Active Investments SA (RAM AI), an active and alternative asset manager offering a range of act

  2. Launches - Ex-BlueCrest team to open over $200m hedge fund, Greg Coffey, a hedge fund star who retired at 41, is eyeing a comeback, Brevan Howard plans Greek funds as bond rally signals revival[more]

    Ex-BlueCrest team to open over $200m hedge fund From Bloomberg.com: A team of traders who left BlueCrest Capital Management earlier this year raised more than $200 million for their own hedge fund focused on Asian stocks, according to a person familiar with the matter. Ovata Capital Manag

  3. North America - Miami could attract hedge funds if SALT deductions axed[more]

    From Law360.com: For years, inertia has been Nitin Motwani's greatest foe in his attempts to lure hedge fund owners in the northeast to Miami, which he has pitched as a tropical low-tax paradise. But with the Republican tax bill proposing to eliminate deductions for state and local taxes, he's sensi

  4. Northleaf Capital Partners closes debut private credit fund on $670M[more]

    Bailey McCann, Opalesque New York: Northleaf Capital Partners has closed its debut private credit fund - Northleaf Private Credit I - on $670 million. The vehicle will invest in private credit transactions in Europe and North America, with a primary focus on lending to private equity-backed compa

  5. ...And Finally - The ongoing gun saga in the U.S.[more]

    From Newsoftheweird.com: As elder members of the First United Methodist Church in Tellico Plains, Tennessee, gathered on Nov. 16 to discuss the recent church shooting in Sutherland Springs, Texas, one of those present asked if anyone had brought a gun to church. One man spoke up and said he c