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Poll verdict – alternative investment directive is not needed

Over two-thirds of European fund managers and investors do not believe the Alternative Investment Fund Managers Directive is necessary, according to a survey by Preqin.

The research firm found that 23 per cent of those polled believe the directive to be very unnecessary while 45 per cent say it is unnecessary.

The survey, which covered around 100 respondents, also found that 69 per cent are generally unsupportive of the directive.

The AIFM is set to be implemented at the end of 2013. It is designed to subject private equity and hedge funds to greater scrutiny and to protect investors. It also tackles areas over tax transparency and custody of assets.

Almost 60 per cent of respondents say the regulations would result in a European lock-in/lock-out and highlight concerns that the directive will see non EU-fund managers that passport into the EU exposed to the same level of scrutiny as those in the region.

It also found that 45 per cent believe it is likely or very likely that fund managers will relocate outside of the EU.


Mergers for opps duo

Henderson Global Investors is planning mergers for its UK and European opportunities funds in its latest rationalisations. The £87m UK opps fund is be merged into the £327m UK alpha fund while the £209m European opps fund will merged into the £755m European growth fund. Henderson says the funds have the same remit as the […]

FSCS declares Havant credit union in default

The Financial Services Compensation Scheme has declared the Havant Area Savers Credit Union in default. The FSCS says it will aim to pay compensation to members of the union, who have been unable to access their savings since December 31, 2010, within seven days “in the vast majority of cases”. It emerged earlier this week […]

Brokers urged to link with estate agents

Emba group sales and marketing director Mike Fitzgerald says mortgage brokers should form partnerships with estate agents in the coming year to cope with the economic climate. Fitzgerald says the relationships provide a good source of new clients for brokers. He says: “A lot of estate agents have let their in-house mortgage people go. A […]


White paper — Dubai International Insights

Jelf Employee Benefits discusses the legislative changes in Dubai, available medical facilities and policy considerations for employers with expatriate workforces in the country. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Dubai, or are considering operating there in the near future.


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