Fri, Sep 30, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

The Netherlands is the first European country to implement AIFMD

Friday, October 05, 2012
Opalesque Industry Update - This week Dutch Parliament approved the law, which implements the EC Directive dealing with the Alternative Investment Fund Managers Directive (AIFMD).

The Netherlands is the first European country which implemented this important new piece of regulation created to limit risks for investors in those alternative investment funds. According to a KPMG survey the Netherlands is now between the top rated countries as potential business location for asset managers and their funds.

The AIFMD deals with stricter EU regulation on alternative investment fund managers offering alternative investment funds, ranging from hedge and private equity fund products to real estate investment funds. The fast implementation is the result of a coordinated effort of the Ministry of Finance, the Dutch regulator AFM and market participants. A tailor made AIFMD sounding board supported the Ministry in the implementation process. Together with the existing tax rules for alternative investment funds , the Netherlands is now between the top rated countries as potential business location for asset managers and their funds according to the KPMG survey. KPMG’s partner Marco Frikkee states: “Dutch based asset managers– with use of the new set of legislation - could optimally use easing tax rules to reduce unnecessary costs inherent to existing tax and legal structures. With the current financial infrastructure it is expected that the Netherlands is able to attract some of the asset managers to bring business over from their current offshore locations.”

Market participants in the Netherlands work together on more occasions. An example is the annual GAIM hedge fund conference in Monaco. Holland Financial Centre (HFC) has, for the past three years, organised the presence of the Dutch participants during this event. HFC is organising the GAIM participation to promote the Netherlands as a centre for alternative investments. Being the first country to implement AIFMD will be a highlight to promote on next year’s trip to GAIM. “The Netherlands already is in the top 5 globally when it comes to hedge fund manager locations, according to the Pertrac 2011 annual survey,” Mark Baak of Privium Fund Management states.
More information: Marc van Voorst tot Voorst, +31 (20) 7085805

(press release)

About HFC
The Holland Financial Centre foundation is a joint public/private venture launched by a number of parties in the financial industry and the government, who have joined together to form a broad-based interest group. The objective of HFC is to develop initiatives aimed at preserving a strong, open, internationally competitive financial industry in the Netherlands, and to retain existing jobs in the industry and create new ones. Participants in the foundation, which was set up in 2007, include banks, brokers, pension funds and asset managers, as well as consultants, accountancy and legal firms, the Dutch government, the Authority for the Financial Markets (AFM), the Dutch central bank (DNB), and the cities of Amsterdam and The Hague. www.hollandfinancialcentre.com

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. Eden Rock buys Gottex stake in ERG Asset Management[more]

    Matthias Knab, Opalesque: Eden Rock Group announced the purchase of Gottex’s stake in ERG Asset Management and so the firm is now wholly owned by Eden Rock. The two firms established the joint venture in 2011 to focus on providing cost effective solutions to funds holding illiquid investments, as

  2. "Hedge fund industry needs to shrink"[more]

    Komfie Manalo, Opalesque Asia: Writing for CNBC, Josh Brown, creator of The Reformed Broker blog and financial advisor for Ritholtz We

  3. Strategy - Voyager Management wants to invest in smaller hedge funds[more]

    From Valuewalk.com: Voyager Management, a $475 million fund of funds, is looking to downsize the hedge fund’s in which they invest, looking for smaller funds with assets under management that enable the fund to be nimble. The fund is looking for noncorrelation and will consider long / short equity

  4. Asia - Quant hedge funds are China's hot new export, Europe banks return to Korean brokerage market; target debt, alternative products[more]

    Quant hedge funds are China's hot new export From Bloomberg.com: Add China’s quant shops to the list of hedge funds branching out across Asian markets. Quantitative money managers from the world’s second-largest economy are opening offshore funds at a never-before-seen pace, according to

  5. Hedge funds pull back from Deutsche Bank[more]

    Bailey McCann, Opalesque New York: Hedge funds are pulling some of their business from Deutsche Bank, according to a Bloomberg report. People familiar with th