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Research by BNY Mellon points to significant uncertainty about the requirements of the Alternative Investment Fund Managers Directive (AIFMD), despite Monday’s first deadline for authorisation.
BNY Mellon surveyed 70 respondents from Europe, Asia, the US and Latin America from companies with an accumulated total of over USDD5trn assets under management.
Half the survey respondents believe that uncertainty remains within their organisation, while a third reveal a fear of not complying on time and of negative financial implications.
Fifty per cent believe that their organisation will be disadvantaged in some way by AIFMD over the medium term. Only 18
By the end of Q1 2013 total assets in the alternative UCITS space advanced by 29 per cent year-on-year to EUR155billion. But this is still a small share of total UCITS AuM of around EUR6.6trillion.
With performance picking up, even as regulation tightens, the experts believe there is plenty of room for growth given that institutional interest is now starting to grow.
This Hedgeweek Special Report was prepared with support and expert contributions from:
– Man
– Lyxor Asset Management
– Sparkasse Bank Malta plc
– ACOLIN Fund Services
Please click here to download this report
Please click here if
BNP Paribas is now ready for the transition of its asset manager and asset owner clients to meet the requirements of the Alternative Investment Fund Management Directive (AIFMD), which came into effect on 22 July.
Philippe Ricard, global head of AFS products, says: “BNP Paribas Securities Services has significantly invested to ramp up our solutions, and today, we provide the largest depositary network in Europe, having already implemented AIFMD compliant processes across all jurisdictions.
“We are fully set up to support our early mover clients and congratulate those pioneering AIFMs who have already successfully navigated their way to
Six of Newedge’s 11 hedge fund indices reflected positive performances during the first half of 2013.
The Newedge CTA Index closed the first six months of 2013 up 1.03 per cent, despite a decline of 1.5 per cent in June.
The Newedge Trend Index rose 0.76 per cent year-to-date as of 30 June, whilst being down 2.87 per cent for the month.
The Newedge Short-Term Traders Index increased 3.75 per cent in the first half of 2013, but decreased 1.18 per cent in June.
The best performing index through 30 June is the Newedge Commodity Trading
Guernsey is now accepting applications under new domestic AIFMD marketing rules and therefore it is a case of ‘business as usual’ for Guernsey’s investment fund community, writes Fiona Le Poidevin (pictured), Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry.
On 7 June 2013 the Guernsey Financial Services Commission (GFSC) issued domestic Alternative Investment Fund Managers Directive (AIFMD) marketing rules, together with a notification form and confirmed they are able to accept applications prior to 22 July 2013.
The GFSC has also provided a set of frequently asked questions (FAQs) which will be updated as
Traiana, a provider of pre-trade risk and post-trade processing solutions, has appointed Guy Eden as head of product management.
He will have cross asset responsibility and will report to Igor Teleshevsky, a member of Traiana’s executive committee.
Eden was previously head of product management at the London Stock Exchange, where he was responsible for product management, development and customer support for UnaVista. Eden joined the London Stock Exchange from Ipreo, the investment banking solutions provider. Prior to joining Ipreo much of his career was spent at SunGard, where he most recently had the role of solutions director.
Roy
The EVCA comments on the Alternative Investment Fund Managers Directive (AIFMD) entering into force across the European Union…
European Private Equity and Venture Capital Association (EVCA) Chairman George Anson on the Alternative Investment Fund Managers Directive (AIFMD) entering into force across the European Union…
Chairman George Anson says: “European private equity has invested more than EUR270billion into 22,000 European companies in the last five years. It is appropriate that private equity is regulated at a European level, as befits a significant and established asset class.
“It is vital both for private equity managers and the investor community, of which
Hedge funds, as measured by the Credit Suisse Hedge Fund Index, finished June down 1.66 per cent, with two out of 10 strategies in positive territory.
In total, the industry saw estimated outflows of approximately USD1.09bn in June, bringing overall assets under management for the industry to approximately USD1.95trn.
The equity market neutral sector experienced the largest asset inflows on a percentage basis, with inflows in June equal to 1.11 per cent of the May 2013 levels.
Event driven funds experienced modestly negative performance against the backdrop of general market fears of a reduction in global central
Managed futures lost 1.11 per cent in June, according to the Barclay CTA Index compiled by BarclayHedge.
The index is now down 0.87 per cent year to date.
“A slowing of economic growth in China combined with concerns of Fed tapering led to trend reversals in equities, commodities, and interest rates in June,” says Sol Waksman, founder and president of BarclayHedge.
Seven of Barclay’s eight CTA indices had negative returns in June. The Diversified Traders Index lost 1.62 per cent, Systematic Traders gave up 1.22 per cent, and Financial & Metal Traders were down 1.10 per cent.
The much anticipated Alternative Investment Fund Managers Directive enters into force on 22 July 2013. GFM’s comprehensive AIFMD Implementation Guide outlines the regulatory position in key alternative investment fund domiciles – the British Virgin Islands, Cayman Islands, Guernsey, Ireland, Jersey and Malta and also examines key issues such as depositary and compliance requirements.
This AIFMD Implementation Guide was produced with the support and specialist expertise from the following:
– Deutsche Bank
– BDO
– Harneys
– Dillon Eustace
– Volaw Trust & Corporate Services
– Guernsey Finance
– Malta Financial Services Authority
Click here to download your copy of the
