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Europe

ESMA advises on extension of AIFMD passport to non-EU jurisdictions

ESMA advises on extension of AIFMD passport to non-EU jurisdictions

Thu, 30/07/2015 - 14:05

The European Securities and Markets Authority (ESMA) has published its Advice in relation to the application of the AIFMD (Alternative Investment Fund Managers Directive) passport to non-EU Alternative Investment Fund Managers (AIFMs) and Alternative Investment Funds (AIFs) and its Opinion on the functioning of the passport for EU AIFMs and the national private placement regimes (NPPRs).  »

announcement

European real estate urges EBA to reconsider shadow banking rules

Mon, 29/06/2015 - 07:30

The European real estate industry has expressed concern over draft European Banking Authority (EBA) guidelines that could both limit how much banks can lend to real estate and lead to real estate funds being inappropriately caught by future shadow banking regulations. »

John Seo, Fermat Capital Management

Cat bonds – issuance, yields and what’s to come

Mon, 13/04/2015 - 12:46

Dr John Seo (pictured), Co-Founder and Managing Principal, Fermat Capital Management on the UK government’s plans for tax legislation allowing cat bonds to be issued from and domiciled in the UK… »

barred

City Noble calls on a ban for DB to DC transfers

Mon, 30/03/2015 - 13:23

There has been speculation that defined benefit transfer volumes will increase after April as clients seek to take advantage of the new flexibility, says Eamonn O’Connor, Director at City Noble… »

Rolf Bachner, Managing Director, EMEA Funds Product Manager, BNY Mellon

UCITS V fine tunes investor protection

Thu, 19/03/2015 - 11:37

Rolf Bachner (pictured), Managing Director, EMEA Funds Product Manager, BNY Mellon, commenting on the new UCITS V regulations… »

Luxembourg

CORESTATE Capital now offers AIFM-certified investment vehicles

Mon, 16/02/2015 - 09:00

CORESTATE’s Luxembourg-based subsidiary CORESTATE Capital Fund Management has obtained a license to operate as an alternative investment fund manager (AIFM) from the Luxembourg Financial Sector Supervisory Commission (CSSF).  »

thumbs up

Montello granted regulated UK fund manager status

Mon, 02/02/2015 - 13:00

Montello has received full regulatory status from the Financial Conduct Authority (FCA) as a UK fund manager.  »

EU flag

Switzerland’s challenge is Germany’s opportunity

Fri, 16/01/2015 - 16:45

The eurozone could soon see full scale quantitative easing, says Robert Smith, Investment Manager of the Baring Asset Management German Growth Trust… »

Peter Cripwell, RiskSystem

Annex IV impact will be substantial

Tue, 13/01/2015 - 10:20

Ahead of the 31 January 2015 deadline for Annex IV reporting, Peter Cripwell (pictured), CEO of RiskSystem, gives his views on the issues it’s having on the industry… »

Dominic Wheatley, Guernsey Finance

A unique offering for Latin American investment

Wed, 17/12/2014 - 10:13

Dominic Wheatley (pictured), Chief Executive of Guernsey Finance, explains how the Island provides Latin American fund managers and investors with a unique offering. »

Ben Eaton, Goodwin Procter

UK Finance Bill 2015 draft clauses sow further uncertainty

Fri, 12/12/2014 - 11:58

Ben Eaton (pictured), a UK tax partner in Goodwin Procter’s London office, comments on the Finance Bill 2015 draft clauses published by the UK government… »

Luxembourg

ALFI clarifies position on ‘LuxLeaks’

Mon, 08/12/2014 - 12:00

ALFI, the Association of the Luxembourg Fund Industry, has moved to clarify the position of Luxembourg-domiciled funds in relation to the recent discussions on the so-called “LuxLeaks”. »

John Cartwright, AREF

AREF welcomes UK's proposed stamp duty land tax relief

Thu, 04/12/2014 - 11:20

John Cartwright (pictured), Chief Executive of the Association of Real Estate Funds (AREF), comments on the UK government’s objective to introduce stamp duty land tax relief in 2016… »

Marketing

FCA master feeders reporting decision creates marketing opportunity for US managers, says ConceptOne

Wed, 12/11/2014 - 11:40

On 1 October the UK's Financial Conduct Authority (FCA) clarified its position that US managers with master-feeder structures would not be required to report on positions held in the master if only the feeder was marketed into the UK.   »

Sweden flag

Common Swedish definition for property type “Public Use” now in place

Thu, 06/11/2014 - 16:02

A common definition for “Public Use” properties in Sweden has now been put in place thanks to a collaboration between some of the major players in the Swedish property sector. »

Alexandre Jaumotte, PwC

SCSp gives real estate fund managers greater choice

Fri, 24/10/2014 - 13:53

PwC Luxembourg is the leading professional services firm in the country with around 2,400 people. Similarly, its Real Estate and Infrastructure team is the largest multidisciplinary team of specialists in the Grand Duchy with more than 250 experts supporting global real estate managers; these range from tax advisers and engineers to auditors and fund accountants. »

Kavitha Ramachandran, Maitland

Luxembourg leads in AIFMD stakes

Fri, 24/10/2014 - 13:47

By Kavitha Ramachandran, Maitland - As the alternative investment market matures, investors are increasingly demanding far more information and transparency from fund managers in return for their capital. Transparency is the new name of the game. In this regard, the Alternative Investment Fund Managers Directive (AIFMD) may be viewed as a single piece of regulation, but its ultimate aims are more or less in line with other regulatory changes such as MiFID II/MiFIR and PRIPS. There will come a point where the reporting and transparency requirements demanded under the AIFMD will become the minimum accepted standard needed to attract investors. »

Justin Partington, Ipes

Luxembourg develops the right ecosystem to support PERE managers

Fri, 24/10/2014 - 13:41

A true sign of how well a fund jurisdiction is doing is the level of growth, not just in new fund formations, but asset growth within administration firms. The onset of the AIFMD has opened up a new range of services for administrators, in particular by providing a Depo Lite solution to managers running non-EU funds. »

Mario Mantrisi, Senior Advisor to the CEO and Member of the Executive Board at KNEIP

Annex IV reporting: the challenges of a moving target

Fri, 24/10/2014 - 13:36

There is no experience as the one gained in the front lines. The fund industry struggles with changing regulation, and those companies whose business model is based on providing reporting services know best that the devil lies in the detail. The following are a number of observations after 12 months of report production and filing of the Annex IV Transparency Reports of AIFMD. »

Jean-Daniel Zandona, Director, Financial Institution/Asset Managers at Credit Suisse Luxembourg

Full service menu to handle European regulations

Fri, 24/10/2014 - 13:32

It is fair to say that alternative fund managers are feeling a degree of regulatory fatigue. Every month, it seems, there are updates, developments and areas of additional compliance. But whilst on the surface this can appear overwhelming, digging a little deeper reveals that service providers are positioning themselves to offer a more complete set of value-added solutions. »

Jesper Steiness, Advent

Growing appetite for hybrid fund structures

Fri, 24/10/2014 - 13:28

“There has been a lot of fund activity in Luxembourg this year focused on private equity and real estate. It’s an area of growing investor demand. They are looking for different options now and ways for investing that go beyond hedge funds,” observes Jesper Steiness, director of business development EMEA at Advent (Luxembourg). »

Paul Van den Abeele, Clifford Chance

SCSp is now part of the fund structuring toolbox

Fri, 24/10/2014 - 13:22

“The Special Limited Partnership (SCSp) has been successfully introduced into Luxembourg law. It is set to benefit from onshore fund activity following the AIFMD and is of particular interest to Anglo-Saxon managers and investors given their familiarity with limited partnership structures,” explains Paul Van den Abeele (pictured), Partner at Clifford Chance (Luxembourg). »

James Williams, Hedgeweek

Luxembourg braces itself for increased PERE fund activity

Fri, 24/10/2014 - 13:01

According to figures released by ALFI at the end of July 2014, there were 3,891 funds with total assets of EUR2.90trn. By comparison, at the end of 2013 the size of Luxembourg’s fund industry was EUR2.61trn with 3,902 funds. During 2013 the number of sub-funds increased by 265 and there were 279 SICARs established. Between end-2012 and end-2013, the number of Specialised Investment Funds (SIFs) – Luxembourg’s most popular regulated fund vehicle – increased from 1,485 to 1,562. »

information sign

FCA is now ready to receive Annex IV reports for the AIFMD 

Tue, 21/10/2014 - 15:13

Tim Thornton, managing director, global client delivery, Mitsubishi UFJ Fund Services, comments on news that the FCA is now ready to receive Annex IV reports for the AIFMD… »

Approved stamp

Augentius approved as Luxembourg depositary

Tue, 21/10/2014 - 12:01

Augentius has received authorisation from the Ministère des Finances, Luxembourg to act as an authorised depositary to private equity and real estate funds under the Alternative Investment Fund Managers Directive (AIFMD). »

Regulation

Crestbridge report examines key AIFMD issues

Mon, 20/10/2014 - 06:15

Risk management, cost and changes in fund structuring are the key issues for managers and investors arising from the initial impact of the Alternative Investment Fund Managers Directive (AIFMD), according to Crestbridge. »

Thumbs up

Confluence engages Fundsquare to simplify AIFMD filing for asset managers

Fri, 17/10/2014 - 14:04

Confluence is collaborating with Fundsquare to provide secure delivery of AIFMD Transparency Reporting to all National Competent Authorities (NCAs) across Europe. »

Clock

ConceptONE’s AIFMD Annex IV Solution available for AIFMs to meet 30 October deadline

Wed, 15/10/2014 - 16:00

ConceptONE is geared up to file AIFMD Annex IV reports for AIFMs in all major EU National Competent Authorities (NCAs). »

Man with loud hailer

FCA and ESMA release new guidance on AIFMD and Annex IV reporting

Mon, 06/10/2014 - 11:08

AIFMD Annex IV reporting is rapidly approaching for alternative investment fund managers (AIFMs) and with that deadline has come a last minute scramble to determine reporting requirements, according to ConceptOne. »

Regulation

Most Belgian REITs seek new operating company status to avoid costly burden of fund-focused AIFMD rules, says EPRA

Tue, 30/09/2014 - 11:39

Most Belgian REITs have called shareholder meetings in the coming weeks to vote on adopting a new corporate status that legally separates them from funds, which face additional regulatory constraints and higher costs imposed by the Alternative Investment Fund Managers Directive (AIFMD), according to the European Public Real Estate Association (EPRA). »

features
Article
Locked door

Cybersecurity issues have existed as long as the internet. What seems to have changed in the last 18 months is not only that the nature of the breaches has become more sophisticated, but also the fact that hedge funds have become a much bigger target.  ... »

Article
up arrow

Private equity fundraising through the first quarter is examined in this extract from the Preqin Quarterly Update: Private Equity, Q1 2015. ... »

Special report
How to Access Europe using third party AIFMs

Read how managers seeking to distribute in Europe can appoint a third party AIFM (or ManCo), and the fund distribution benefits this can bring, both for new fund launches and redomiciled funds... »

Article
Ken MacCuish, Intralinks

A couple of years ago, the title Chief Information Security Officer, or CISO for short, was a foreign concept within the hedge fund community. The winds have changed, however, as hedge funds become increasingly targeted by cyber hackers, causing many to hire a CISO to uphold the network integrity of the firm.  ... »

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