Sun, Mar 1, 2015
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. Investing - Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched, Myriad hedge fund sold bulk of its Alibaba stake last year[more]

    Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched From Valuewalk.com: As hedge fund manager Seth Klarman, leader of the $28 billion Baupost Group, reviews 2014 performance and considers investors gained near 7 percent on the year, he cons

  2. Adamas Asset Management and Ping An Insurance to co-manage $500m debt fund[more]

    Komfie Manalo, Opalesque Asia: Hong Kong-based Adamas Asset Management and Ping An Insurance Group, one of China’s largest financial institutions, have finalized a memorandum of und

  3. Opalesque Exclusive: dbSelect’s top ten FX strategies average almost 10% in January[more]

    Benedicte Gravrand, Opalesque Geneva: In one of Deutsche Asset & Wealth Management (AWM)’s hedge fund platforms, called dbSelect, a number of FX Strategies did very well in January. dbSelect is a managed investment platform for unf

  4. Opalesque Exclusive: SEC’s Mark J. Flannery warns hedge funds against valuation misconduct[more]

    Komfie Manalo, Opalesque Asia: Securities and Exchange Commission chief economist and director of Division of Economic and Risk Analysis (DERA) Mark J. Flannery has warned of the risks posed by market misconduct, particularly in the true valuation of assets by hedge fund managers. In his

  5. Dymon Asia's $3bn macro hedge fund lost 10.45% in January[more]

    From Reuters.com: Dymon Asia's $3.1 billion macro hedge fund lost 10.45 percent in January, performance data seen by Reuters showed, a month where many peers lost heavily after a surprise rise in the Swiss franc. Singapore-based Dymon, set up by Danny Yong, a former founding partner and chie