Fri, Mar 29, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Industry Updates

New rules for hedge fund firms could transform Australian sector

Monday, June 22, 2015
Opalesque Industry Update - Australia has taken a decisive step towards its advancement as a global investment market, with the smooth passage of the Investment Manager Regime (IMR) legislation through the Australian Parliament.

The Alternative Investment Management Association (AIMA), the global hedge fund industry association, notes that the legislation, which contains a number of favourable amendments to its earlier draft form, marks a new chapter for Australia to grow as an attractive destination for foreign capital and fund trading operations.

Michael Gallagher, General Manager of AIMA Australia, said the IMR is the culmination of meaningful consultations between the financial services industry and Australian Treasury, dating back to 2012; and is designed to ensure fair treatment of all investment segments, including Australia’s young and growing hedge fund community.

“This new regime levels the playing field with other hedge fund centres around the world, and in doing so, promises to transform the hedge fund sector in Australia,” he said.

“Hedge funds managed out of Australia will be more able to attract capital from international institutional investors as a result of these changes, while international fund management firms will find it easier to build a business case for establishing operations in Australia.”

The Bill to implement Element 3 of the Australian Investment Manager Regime (IMR3) was introduced on 27 May 2015, passed by the Senate on 17 June 2015, and now awaits Royal Assent.

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1