Hedgies plot new directive
REPRESENTATIVES of the hedge fund industry will this week put forward an alternative to the European Commission’s (EC) alternative investment fund managers (AIFM) directive, which they say would devastate Europe’s hedge fund industry.
The Alternative Investment Managers’ Association (Aima) has been leading lobbying efforts to revise the directive and believes that it has secured sufficient support in Europe for changes to the EC’s plans.
Aima will now focus its attention on proposing an alternative and is expected tourge Brussels mandarins to focus on increased disclosure and registration of fund managers.
A source close to Aima said: “We are at the business end of the campaign now.”
He said the organisation believed it had won the debate about whether the directive should be revised and was now redoubling efforts to lobby for a revamped version.
Aima chief executive Andrew Baker said last week that he expected “significant revisions” to the directive.
CityA.M was the first newspaper to campaign against the directive.