The new Alternative Investment Fund Management Directive has created uncertainty in the industry.
Eric Bertrand, director for the Schroders GAIA (Global Alternative Investor Access) UCITS platform which is advised by Schroders NewFinance Capital, says once European regulators agree on the details of AIFM Directive bifurcation will take place between UCITS hedge funds and onshore hedge funds like specialised investment funds or qualifying investor funds.
Eric Bertrand director of Schroders GAIA UCITS platform
He says: “AIFM Directive has created a question mark over the industry. The new European Securities and Markets Authority, which replaces CESR, will create some clarity over the AIFM Directive because there are a lot of details