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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.

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