Tue, Apr 25, 2017
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. Investing - Hedge fund Ecofin says EDP bid for renewable energy unit 'egregiously low', Asia CIOs say "non" to Europe, Billionaire Mike Novogratz says he has 10% of his money in Bitcoin and Ether[more]

    Hedge fund Ecofin says EDP bid for renewable energy unit 'egregiously low' From Reuters.com: London hedge fund firm Ecofin said an offer from Portugal's largest company EDP to buy 22.47 percent of subsidiary EDP Renovaveis "significantly undervalues" the company, in a letter to EDPR's bo

  2. Alternative asset firm YieldStreet surpasses $100m of loans funded in less than 8 quarters[more]

    Komfie Manalo, Opalesque Asia: Alternative asset investment platform YieldStreet reported that it has surpassed $100m in loans funded in less than eight quarters from accredited investors and single family offices. YieldStreet was founded by Milind Mehere and Michael Weisz. In a

  3. Investing - Investor appetite for high-growth IPOs to be tested, Apollo boosts fund's stock allowance for 'diamonds in the rough', Hedge funds uncertain over outlook for Hargreaves Lansdown[more]

    Investor appetite for high-growth IPOs to be tested From FT.com: The US listings market is poised for a busy week with deals that will test investors' appetite for high-growth - but lossmaking - companies. Eight new listings are scheduled for this week, the most since October of 2016,

  4. Hedge funds holding Puerto Rico bonds are looking at a long battle[more]

    Komfie Manalo, Opalesque Asia: Hedge funds which bought Puerto Rico's distressed debt bonds are facing the prospect of a long road ahead to recover their investments as the Caribbean island is attempting to use a U.S. Congress-approved rule that allows it to exploit a bankruptcy-like proceedings

  5. Aris Wealth' quant indices fare well[more]

    Benedicte Gravrand, Opalesque Geneva: Last year, Geneva-based Aris Wealth Management launched indices sponsored by Societe Generale Corporate & Investment Banking. These indices replic