- Advertisement -
- Advertisement -

Related

AIMA calls for removal of cross-border barriers to fund marketing

Latest Report

- Advertisement -

The Alternative Investment Management Association (AIMA), the global representative body for alternative asset managers, has welcomed the European Commission consultation on reducing barriers to the cross-border marketing of investment funds.

AIMA said that barriers to take-up of the so-called “passport” for investment funds has held back growth in the European economy and hurts savers and investors.

AIMA cited the imposition by many EU jurisdictions of registration and notification fees on funds, which can amount to hundreds of thousands of euros annually for individual firms, as a major obstacle to a better functioning single market for investment funds. These fee costs are often borne by the end investors. AIMA said another significant barrier has been the requirement by some jurisdictions for investment managers to appoint a local agent or representative in order to market a fund there.

AIMA’s statement comes on the day that the European Commission launches a consultation exercise into the cross-border distribution of funds. The consultation forms part of the Commission’s effort to create a “Capital Markets Union” – a deeper single market for capital in the EU. The Commission’s consultation paper acknowledges the important role that cross-border investment funds can play in economic growth by channelling scarce capital to infrastructure projects, small firms and other investment opportunities. “If funds can do business more easily cross border, they can grow and become more efficient, allocate capital efficiently across the EU, and compete within national markets to deliver better value and greater innovation for consumers,” says the EC paper.

Jack Inglis, CEO of AIMA, said: “We welcome the European Commission’s scrutiny of barriers to the use of the pan-European marketing ‘passport’, which have held back growth in the European economy. The imposition of registration and/or notification fees on funds or even sub-funds in a great number of EU jurisdictions can cost individual firms hundreds of thousands of euros annually.

“As well as reducing or removing the layer of fees, we also would ask the Commission to consider removing or minimising other administrative and  regulatory restrictions on marketing, especially in the case of funds that are marketed solely to professional investors.”

Picture: (c) aboutpixel.de–Bernd-Boscolo

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

Latest Articles

Mapping the Finnish Hedge Fund Landscape

Beyond operating as a media platform, HedgeNordic maintains an extensive database of Nordic hedge funds and related data. Although the data is not without...

Quirky Questions for Serge Houles (Tidan Capital)

Not every conversation in the hedge fund world needs to revolve around alpha, Sharpe ratios, or fund flows. In the ongoing Quirky Questions series,...

Quirky Questions for Mette Østerbye Vejen (Caba Capital)

Not every conversation in the hedge fund world needs to revolve around alpha, Sharpe ratios, or fund flows. In the ongoing Quirky Questions series,...

Solid First-Half Finish for Nordic Hedge Funds

Nordic hedge funds wrapped up the first half of the year on a solid note, delivering an average gain of 1.4 percent in June....

Brevan Howard Winds Down Volatility Fund Managed by Ville Helske

Brevan Howard Asset Management is winding down a volatility-focused hedge fund run by high-profile Finnish portfolio manager Ville Helske. Helske, formerly Head of Allocation...

Ymer to Launch Fourth CLO Fund with Proven Strategy and Structure

Building on the track record of three previous credit funds, Swedish alternative credit specialist Ymer SC AB is preparing to roll out its fourth...

Allocator Interviews

In-Depth: High Yield

Voices

Request for Proposal

- Advertisement -
HedgeNordic
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.