Will alternative asset managers continue to set up UCITS
funds? That is the question the investment industry is now
asking according to one Dublin-based lawyer.
The Alternative Investment Fund Manager Directive, which was
approved by Members of the European Parliament in November
2010, means that there is more clarity about the sale and
distribution of hedge funds in Europe.
Donnacha O'Connor from law firm Dillon Eustace
In January 2013 the AIFM Directive will be transposed into
member states. Under the new legislation, passporting will be
introduced in 2015 for non-EU alternative investment fund
managers and current national private placement regimes will
end in 2018.