Mon, Jan 26, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Opalesque UCITS intelligence

INDUSTRY ANALYSIS: Ready for AIFM ? Alceda/Kepler survey - May/June 2014

Monday, August 18, 2014

AIFMD : Are your ready? Latest research report published by KEPLER-ALCEDA Research

Alceda Fund Management S.A. and Kepler Partners LLP conducted a survey in May/June 2014 among the global alternative fund manager community. The 56 correspondents collectively manage $300 billion under management representing firms in Europe, Asia-Pacific and the USA. The objective of the survey explains Georg Reutter at Kepler Partners, is to assess the key issues of investment fund managers and the potential opportunities AIFMD may bring.

Key findings:

Are you ready for the AIFMD? only 32% said they were already compliant
- 19% said they planned to submit before the 22 July 2014
- still 13% remained undecided

• European managers responding were generally perceived as better prepared compared to other managers in other locations possibly more blindfolded

• 17% of managers surveyed said they preferred to keep the UCITS route, even for Institutional investors

• Biggest issues on AIFMD raised:
- Depositary costs, remuneration and the end of private placement

• Main benefits:
- 40% of respondents sees AIFMD providing a larger EU wide distribution and an increased investor confidence

Best routes for distributing across Europe: Alceda viewpoint

Since July 22nd, managers have in hands either AIFs, or UCITS or still use the National Placement Regime, in place until 2018. As Alceda explains in its survey, using the remaining Placement Regimes seems a relatively easy option, but nevertheless requires significant paper work to document activities to local regulators. Passive marketing also called « Reverse solicitation » is possible but might be a painful exercise if not done properly.

A manager has the option to obtain his own AIFM licence or assign an external party. The first option might prove to be costly and choosing an external distributor would sa good alternative for Europe. Therefore, as Michael Sanders, CEO and Chairmanof the Board of Alceda Fund Management S.A outlines: Foreign managers must ask themselves how they wish to enter the European market.



 
This article was published in Opalesque UCITS intelligence.
Opalesque UCITS intelligence
Opalesque UCITS intelligence
Opalesque UCITS intelligence
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. Commodities - Druckenmiller alums at PointState make $1 billion on oil, Andurand Capital sees oil sliding to $40[more]

    Druckenmiller alums at PointState make $1 billion on oil From Bloomberg.com: Hedge fund manager Zach Schreiber stood on stage at Avery Fisher Hall in New York eight months ago and made a bold prediction. “We believe crude oil is going lower -- much lower,” Schreiber, 42, told the audienc

  2. Investing - David Einhorn discloses a new position in Time Warner, Canyon trimming bets on mortgage bonds after making $7bn[more]

    David Einhorn discloses a new position in Time Warner From FTLeavenworthlamp.com: …Einhorn also disclosed a new position in Time Warner. "Since 2009, TWX has refocused its business into a collection of high quality assets including basic cable networks (Turner and CNN), a movie studio (

  3. Top performing private equity firms you should invest in[more]

    Komfie Manalo, Opalesque Asia: Professor Oliver Gottschalg of Paris-based HEC Business School, also known as Ecole des Hautes Etudes Commerciales de Paris has released his annual ranking of the top performing private equity firms. The 2014 HEC-DowJones Private Equity Performance Ranking

  4. Comment - Why invest in hedge funds if they don't outperform the market?[more]

    From Forbes.com: Hedge funds have always been a bit exotic and an enigma to some, but bottom line they are supposed to produce good returns using a range of strategies including global macro, event driven and relative value (arbitrage). And, sophisticated or high-net-worth individuals (HNWIs) could

  5. Owen Li 'truly sorry' for blowing up $100m of hedge fund’s assets[more]

    From CNBC.com: A hedge fund manager told clients he is "truly sorry" for losing virtually all their money. Owen Li, the founder of Canarsie Capital in New York, said Tuesday he had lost all but $200,000 of the firm's capital—down from the roughly $100 million it ran as of late March. "I take r