View more on these topics

Alternative fund clients wary of European directive

Less than 2 per cent of Alternative Investment Management Association members’ clients believe that the AIFM directive will work in their favour, according to research by thinktank Open Europe.

The survey found that over half of clients view the European Commission proposals unfavourably while 42 per cent are neither for nor against the planned changes.

Under 1 per cent believe that the directive is likely to reduce systemic risk and market volatility while 82 per cent say the changes will not reduce risk and 17 per cent do not know.

The directive on alternative investment fund managers has been criticised in recent months, with a number of trade bodies questioning the potential hazards of the proposals being passed in their current state.

Concerns range from the future of investment trusts to the potential for heavy restrictions on investing in emerging market funds.

Open Europe says the proposals are likely to result in substantial increases in costs unless changes are made. It says in a worst-case scenario, thousands of jobs and millions of pounds in tax revenue could be at stake.

Martin Currie head of product development Toby Hogbin says: “As an industry, we are advocates of strong, effective regulation. The fear is that sometimes it loses its impact if it is delivered too quickly.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm