mast image

Special Report

Impact investing

Sections

AIFM directive could stifle asset management innovation, warns AIMA

Related images

  • AIFM directive could stifle asset management innovation, warns AIMA

Related Categories

EUROPE - The Alternative Investment Fund Managers Directive (AIFM) could slash the number of viable fund models and stifle innovation across the industry, the Alternative Investment Management Association (AIMA) has warned.

In its submission to the European Securities and Markets Authority (ESMA), the hedge fund association said any single piece of legislation would be unable to cater to all alternative investment vehicles.

It also said the impossibility of legislating all vehicles should not be viewed as a failure.

The organisation's chief executive, Andrew Baker, insisted that guidance should take the place of ironclad regulation.

"Prescription could risk setting inappropriate limits on what is permitted and, in so doing, lead to an unintended reduction in the breadth of existing business models or strategies or significant loss of innovative potential for the EU alternative asset management industry and, thus, benefits to EU investors," he said.

"We would urge ESMA, wherever possible, to work toward solutions based on achieving a regulatory outcome, accepting that AIFM in different sectors should be able to apply the legislation in different ways, based upon the nature of their particular business model."

Jiri Krol, the group's director of policy and government affairs, added that openness was also an important measure to apply.

"Flexibility, proportionality and openness are three key features the regulation should retain if it is to succeed in delivering the policy objectives while preserving the existing breadth of business models and strategies," he said.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2548

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 300-400m.
    Closing date: 2019-07-30.

  • QN-2549

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 300-700m.
    Closing date: 2019-07-30.

  • QN-2550

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2551

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2552

    Asset class: Fixed Income, High Yield (Active).
    Asset region: High Yield (US).
    Size: CHF 500-600m.
    Closing date: 2019-07-29.

  • QN-2553

    Asset class: Fixed Income, High Yield (Passive or Passive Enhanced).
    Asset region: High Yield (US).
    Size: CHF 500-1'100m.
    Closing date: 2019-07-29.

  • QN-2554

    Asset class: Global Real Estate (Equity, unlisted Funds).
    Asset region: World (ex-Switzerland).
    Size: CHF 200 mn (potential for further growth).
    Closing date: 2019-08-07.

  • QN-2556

    Asset class: FX Hedging.
    Asset region: Global.
    Size: Mandate size of CHF 1.5 bn.
    Closing date: 2019-08-09.

  • QN-2557

    Asset class: All/large Cap Equities.
    Asset region: China A-shares.
    Size: Unit linked platform (0m USD in initial investment).
    Closing date: 2019-08-01.

Begin Your Search Here
<