Nearly three quarters of fund managers view the Alternative Investment Fund Management Directive (AIFMD) as a threat to their businesses, according to a new survey by Deloitte –highlighting concerns that the new regulation will reduce the attractiveness of Europe as a place to do business.
The AIFMD came into force in July 2011. It regulates how alternative investment fund managers distribute their funds and operate their businesses.
The biggest concerns for fund managers are depositary costs (cited by 84% of respondents), delegation (78%), and changes to contractual arrangements and routes to market (67%).
Deloitte surveyed 23 hedge fund,