Tue, Oct 13, 2015
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


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. Manager Profile - Pimco alternative funds flourish as 30-year bond rally fades[more]

    From Bloomberg.com: Inside Pacific Investment Management Co., the bond behemoth that lost two chief investment officers last year and saw almost $500 billion of client money leave, a hidden profit engine is easing some of the pain. For more than a decade, Newport Beach, California-based Pimco has qu

  2. Niche Investing - Art investment funds: Attracting institutional and other new investors[more]

    From Mondaq.com: The Deloitte/ArtTactic Art and Finance Report 2014 (the "Art and Finance Report") noted that the "global art investment fund market was estimated to be worth at least $1.26 billion in the first half of 2014." This seems almost inconsequential when juxtaposed with the $54 billion of

  3. Other Voices: Why fund boards must develop a response to cyber security and financial crime threats[more]

    This article was written by Carne, an international specialist in the provision of independent governance services and European management company solutions to the global asset management industry. A recent SEC action has highlighted how concerned regulators have become about data intru

  4. Hedge funds relatively resilient in Q3[more]

    Komfie Manalo, Opalesque Asia: Hedge funds fell in the third quarter as market conditions remain challenging, but still outperformed the S&P 500. The Lyxor Hedge Fund index was down 3.6% during Q3 while the S&P 500 fell 8.2%. According to Lyxor, "hedge funds were quite resilient in Q3. Falling en

  5. Hedge funds start Q4 on strong footing reversing the previous market downturn[more]

    Komfie Manalo, Opalesque Asia: Hedge funds started the fourth quarter on a strong footing, reversing the previous market downturn with the Lyxor Hedge Fund Index up 1.1% as of end Oct. 6 (-0.7% YTD). Event-driven outperformed, up 2.2% (-4.2% YTD), and CTAs underperformed (- 1.9%), extrapolatin