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BlackRock this week launched a new absolute return fund for European institutional investors. The BlackRock Multi-Strategy Absolute Return Fund is the firm’s first UCITS-compliant multi-strategy alternative fund in Europe.
Ingo Heinen, Head of BlackRock Alternative Investment Strategies in Europe, said that there was a trend in Europe towards institutions seeking alternative investments via regulated ‘onshore’ vehicles.
“Many clients want diversified exposure to funds that add alpha and provide a different set of returns to equities and bonds, and this liquid multi-strategy fund will give them access to a range of alternative investment strategies in a cost-efficient and dynamic way,” said
Sapient Global Markets has published a white paper which examines collateral management trends and their effect on firms’ systems and processes.
The paper, “Bringing Efficiency to Collateral Management”, discusses how and where firms must deliver greater efficiency in order to remain competitive and protect revenues.
It reveals that while regulations continue to drive firms’ investments in new technology and infrastructure, a number of other trends are influencing firms’ desire to increase efficiency including shortfalls, cross asset netting, collateral optimisation and transformation.
“Market participants have patched together fragmented systems, manual processes, and siloed approaches to ensure compliance with various
The Alternative Investment Management Association (AIMA), the global hedge fund industry association, has signed a memorandum of understanding (MoU) with the Asset Management Association of China (AMAC).
The MoU, which was signed in Beijing on 18 June 2014, is the first of its kind signed by AMAC with an international organisation.
The MoU outlines areas of future cooperation between the associations and highlights their joint commitment to strengthening the exchange and cooperation of the Chinese and international fund management industries.
The MoU signing was part of a five-day trip to Beijing by senior AIMA representatives during which AIMA
Castle Hall Alternatives has launched OpsDiligence, an online platform allowing investors to build due diligence programmes across all asset classes, including hedge fund, private equity and long only portfolios.
“OpsDiligence offers a new solution to the challenges of investor due diligence,” says Chris Addy, Castle Hall’s president and chief executive. “As the operational due diligence process has matured, investors now require a flexible, risk based approach, coverage across all holdings, irrespective of asset class, and a far more sophisticated technology platform. OpsDiligence delivers across all these criteria.”
The foundation of OpsDiligence is OpsData. Castle Hall populates the OpsData online
By Dr Christopher Buttigieg and Dr Isabelle Agius, Malta Financial Services Authority – This paper attempts to summarise the legislative framework adopted in Malta for the implementation of the Alternative Investment Fund Managers Directive (‘AIFMD’).
Malta is considered a European domicile of choice for the establishment of investment funds and their services providers. The island’s achievement in this field came about primarily as a consequence of a highly developed regulatory framework applicable to investment funds and the Malta Financial Services Authority’s (‘MFSA’) approach to financial supervision characterised by a high degree of accessibility and robust supervision. Malta’s implementation of the AIFMD has
By Olivier Sciales, Chevalier & Sciales – As, after more than four years of preparation, the European Union’s Alternative Investment Fund Managers Directive takes full effect for existing managers, Luxembourg finds itself in the position it wanted to be in – ideally placed to become a domicile and servicing platform for alternative funds distributed across borders in the same way that it has become for traditional retail funds under the UCITS regime.
Luxembourg has long been an established jurisdiction for alternative investments, starting with funds governed by Part II (dealing with non-UCITS vehicles) of the country’s fund legislation. Already a location
By Donnacha O’Connor, Dillon Eustace – The Irish AIFMD rules – The Irish Minister of Finance signed the European Union (Alternative Investment Fund Managers) Regulations, 2013 into law on 16th July, 2013. These regulations transposed Directive 2011/61/EU into Irish law with substantially no gold-plating.
A number of European Commission “Delegated” and “Implementing” pieces of legislation have direct legal effect in Ireland including Commission Delegated Regulation (EU) 231/2013 of 19 December, 2012 supplementing Directive 2011/61/EU, Commission Implementing Regulation (EU) No 447/2013 of 15 May 2013 establishing the procedure for AIFMs which choose to opt in under Directive 2011/61/EU and Commission Implementing Regulation (EU) No
By Fiona Le Poidevin, Guernsey Finance – Guernsey has been on the front foot throughout the conception, development and implementation of the Alternative Investment Fund Managers Directive (AIFMD).
Guernsey has made early decisions wherever possible in terms of how its funds industry responds to the directive, while awareness among fund managers of the requirements imposed by AIFMD has been somewhat mixed. Furthermore, and as anticipated, the way the different EU Member States have applied conditions has been inconsistent. Indeed, at the end of May, Bill Prew, Chief Executive of the independent depositary services Indos Financial, claimed that some 10 months on
Gibraltar has taken a clever approach to ensuring that the Alternative Investment Managers Directive (AIFMD) is as appealing as possible to managers looking to launch AIFMD-compliant funds across Europe. It is, in short, the most cost-efficient jurisdiction, whilst its Experienced Investor Fund (EIF) offers managers one of the fastest routes to market.
Following a period of close collaboration between the Government of Gibraltar, the Financial Services Commission (FSC) and the Gibraltar Funds & Investments Association (GFIA), the directive was transposed into local law a full two weeks ahead of last June’s deadline. This in itself shows just how important the jurisdiction
By Paul Govier (pictured) & Harjit Kaur – The European Alternative Investment Fund Managers Directive (“AIFMD”) introduces a new regime governing the management and marketing of alternative investment funds (“Funds”) in the EU. The transitional period for the implementation of the AIFMD expires on 22 July 2014, and from this date Cayman Islands Funds (“Cayman Funds”) may only be marketed in the member states of the EU in compliance with the requirements of the AIFMD, unless a relevant exemption applies. Different marketing regimes will apply from the end of the transitional period to 2018 and beyond.
End of transitional period to 2015
