Mon, Feb 8, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

AIMA warns of wider impact of AIFM Directive ahead of two key votes next week

Friday, May 14, 2010
Opalesque Industry Updates - If the European Union pushes through a flawed Directive on Alternative Investment Fund Managers the impact will go far beyond the hedge fund and private equity industries. That’s according to the Alternative Investment Management Association (AIMA) – the global hedge fund industry association.

The warning comes ahead of two key votes next week on the Directive - in the European Parliament’s Economic and Monetary Affairs Committee (ECON) on May 17th and the Economic and Finance Council (ECOFIN) meeting of European finance ministers on May 18th.

Andrew Baker, Chief Executive Officer of AIMA, said:“Of course the hedge fund and private equity industries would be impacted by a flawed Directive, but the consequences would be much wider. We have already heard how the Directive would hit small firms across Europe and make it more difficult for new businesses to be created, and how development banks investing in emerging markets would be affected. Real estate and infrastructure investment in Europe would also be impacted because funds in this sector would also be covered by the Directive. We’re talking about schools, hospitals, shopping centres, things that affect ordinary EU citizens.

“We are particularly concerned about measures which would ban European investors from accessing funds outside the European Union. Major investors in alternative investments include pension funds and insurance companies, and there would be very negative social consequences across Europe if their investments were adversely influenced by such a ban. Ordinary European citizens would have to pay higher pension contributions and insurance premiums.

“Closing Europe’s borders would send all the wrong signals out to the rest of the world about Europe’s place both as a global centre for financial services and as a destination for international investment. It would significantly affect international trade and capital flows and result in protectionist consequences. And it would impact ordinary citizens and small businesses across the EU and emerging markets internationally.”


As the only truly representative global hedge fund association, AIMA, the Alternative Investment Management Association, has more than 1,100 corporate members (with over 4,500 individual contacts) worldwide, based in over 40 countries. AIMA is a dynamic organisation that reflects its members’ interests and provides them with a vibrant global network. www.aima.org.


See also: UK industry bodies write to MEPs ahead of Monday’s vote on AIFM directive, appealing for ‘pragmatic and workable solution’ 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. How Einhorn survived a nightmare year[more]

    From Bloomberg.com: Even when a hedge fund has an awful year, which was the case for David Einhorn's Greenlight Capital, there are lessons to be learned. Many funds would have had a tough time surviving a year like Einhorn experienced in 2015, when all the stars seemed to align against him and Green

  2. Legal - Hedge fund founder wins early release in U.S. insider trading case, Gramercy seeking $1.3 billion from Peru over land-bond dispute[more]

    Hedge fund founder wins early release in U.S. insider trading case From Reuters/Streetinsider.com: Former hedge fund manager Doug Whitman on Tuesday won a reprieve from serving the remainder of his two-year sentence for insider trading after several judges expressed skepticism that his 2

  3. Investing - David Einhorn finds a winner in Michael Kors[more]

    From Thestreetinsider.com: Greenlight Capital hedge fund manger David Einhorn took his lumps in 2015. The fund lost over 20 percent on the year amid bets gone bad being long a plunging SunEdison and short a couple high-flying FANG stocks. However, today Einhorn is again showing his stock picking pro

  4. Investing - Avenue Capital's Marc Lasry: We like European bank loans, Comment: A bunch of hedge fund managers are chasing the 'dream of crushing a major structural problem'[more]

    Avenue Capital's Marc Lasry: We like European bank loans From CNBC.com: European banks are under immense pressure, but at least one prominent hedge fund has found what it thinks is a good opportunity in the wreckage. Marc Lasry, co-founder and chief executive of hedge fund Avenue Capital

  5. Computer-driven hedge funds make money during January’s selloff[more]

    Komfie Manalo, Opalesque Asia: Commodity trading advisers (CTAs) that use computer programs to guide how they trade, made millions of dollars during last month’s market selloff on the back of declining oil prices and global equities and big moves in currencies. Data provider