SPONSORED STATEMENT: Thinking outside the AIFMD box
Mon Apr 16, 2012
Hedge fund managers are inevitably considering their structures and wishing to avoid what many consider to be unnecessarily intrusive rules, says K&L Gates
Martin Cornish, head of European Fund Management,
Hedge fund managers are faced with an unprecedented assault on
their business models. They need to think outside the box
– notably the box created by the EU Alternative
Investment Fund Manager Directive (AIFMD) – to ensure
their businesses are not unduly compromised.
As is often the case with excessive regulation and tax, the
likely industry response will be to move some business out of
the EU (indeed some already have) with the unintended
consequence that the EU will see a fall in assets under
management from within the EU; and most probably a fall in tax
Both regulation and tax are encouraging managers to set up
operations outside the EU, not abandoning the EU entirely, but
keeping those parts of their non-EU business entirely outside
the reach of the EU regulators and thus minimising the
ISSN: 2151-1845 / CDC10004H
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