EU hedge fund 'passports' will take five years to deliver benefits

By Martin Steward2009-05-26T13:00:00

[14:00 CEST 26-05] EUROPE - Most hedge fund and private equity managers are unlikely to benefit from the passport provisions of the European Commission’s Draft Directive on Alternative Investment Fund Managers (AIFM) before 2014, even though they will have to meet its requirements as soon as it becomes law.