AIMA

The Alternative Investment Management Association

Alternative Investment Management Association Representing the global hedge fund industry

Q1 2014 edition

Issue 98

 

EDITORIAL - Capital markets and economic growth

Jack Inglis, CEO | AIMA

Jack Inglis highlights new research commissioned by AIMA that has found that debt and equity financing provided by hedge funds and other capital markets participants drives significant economic activity and expansion


AIFMD – Critical cliff or steady course?

Dr Gerald Gonzenbach, Managing Partner, and Ulrich Kobelt, Partner | Enhanced Value Advisory Ltd

Dr Gerald Gonzenbach and Ulrich Kobelt consider regulatory issues regarding the marketing of alternative funds in the EU and Switzerland


Brand is the new performance for hedge funds

Thomas Walek, President | WalekPeppercomm

Tom Walek says that, by building a brand and long-lasting client relationships, hedge funds will be able to achieve something that is far more valuable than last quarter’s performance numbers - a sustainable business


CIMA turns the spotlight on corporate governance for regulated mutual funds

Jon Fowler, Partner, Jonathan Green, Partner, and Philip Millward, Partner | Maples and Calder

Jon Fowler, Jonathan Green and Philip Millward highlight some of CIMA's current position statements about potential future developments and focus on key features of the Statement of Guidance on Corporate Governance for Regulated Mutual Funds


Common compliance traps

By Vipool Desai, CA CFA, President | ARA Compliance Support

Vipool Desai shares three common traps that many small and mid-size firms fall into when applying their regulatory requirements


COREP reporting and CRD IV compliance – How are you positioned?

Priya Mehta, Associate Director | Buzzacott

Priya Mehta discusses the Capital Requirements Directive IV, which became effective in January 2014


Depositary services in a post-AIFMD world

David Rochford, Head of Regulatory Product Development | UBS Fund Services

David Rochford considers the AIFM Directive’s treatment of depositary services – the strict liability regimes and the effect on pricing, the different models available, the different guidance issued by respective national regulators and the emergence of the so-called ‘depositary lite’


Identifying investment fund G-SIFIs - FSB-IOSCO consult on non-bank, non-insurer global systemically important financial institutions

Simon Crown, Partner, Nick O'Neill, Partner, and Mark Shipman, Partner | Clifford Chance

This briefing focuses on the proposed methodology for assessing whether investment funds are G-SIFIs


Regulation in 2014

Ashley Kovas, Head of Funds | Bovill Limited

Ashley Kovas says UK hedge fund managers need to stay abreast of four key regulatory areas as 2014 develops - a focus on the individual, conduct risk, EMIR and AIFMD


Seven key steps to fund governance in 2014 and beyond

Don Seymour, Founder | DMS Offshore Investment Services

In this article, Don Seymour discusses seven key elements for effective fund governance


The evolution of activism

Mark Shaw, Portfolio Manager | Permal Group

Mark Shaw writes how activist investing has returned to the fore and has become more established, better known, and is better understood as a benefit to shareholders


The fixed income securities market – an overlooked giant?

Man Systematic Strategies


The FSA’s “Dear CEO” letter on outsourcing: what should asset managers be doing?

Tom Wheadon, Partner, and Lawrence Brown, Managing Associate | Simmons & Simmons

Tom Wheadon and Lawrence Brown reflect on the FSA's letter on outsourcing and consider what asset managers should be doing now


UK Partnership tax changes – how complex can it be?

Robert Mellor, Partner, and Moonir Kazi, Senior Manager – Tax | PricewaterhouseCoopers LLP

Robert Mellor and Moonir Kazi set out some of the practical implications which arise from the new rules governing the taxation of partnerships in the UK


UK partnership tax changes – practical considerations

Michael Beart, Director | Kinetic Partners

With the April 2014 implementation date of changes to the taxation of partnerships in the UK fast approaching, Michael Beart discusses some of the practical considerations taxpayers face and the action required


 

The AIMA Journal is AIMA's flagship publication. It is sent quarterly to AIMA's members,  investors, policymakers, regulators and the media.

We encourage all of our members to contribute to the AIMA Journal.  Anyone wishing to do so is invited to contact  Dominic Tonner.  We look forward to hearing from you.

 

Q1 cover

Click on the thumbnail above to
download a pdf of the magazine

Main Menu

  1. Home
  2. About
    1. Our Core Objectives
    2. AIMA's Policy Principles
    3. Meet the team
    4. AIMA Council
    5. Global Network
    6. Sponsoring Members
    7. Global Partners
    8. FAQs
    9. Opportunities at AIMA
  3. Join AIMA
    1. Benefits of Membership
    2. Membership Fees
    3. Application form
  4. Members
    1. AIMA Annual Reports
    2. AIMA Governance
    3. AIMA Logo
      1. Policy note
    4. AIMA Members' List
    5. AIMA Review of the Year
    6. Committees and Working Groups
    7. Weekly News
    8. Update Profile
  5. Investors
    1. AIMA Investor Services
    2. AIMA Members' List
    3. Investor Steering Committee
    4. Update Profile
  6. Regulation
    1. Asset Management Regulation
      1. EU Asset Management Regulation
        1. AIFMD
        2. European Capital Markets Regulation
        3. MiFID / MiFIR
        4. UCITS
        5. European Venture Capital Directive
        6. Shareholder Rights Directive
        7. European Long Term Investment Fund Regulation
        8. Loan Origination Funds
        9. Capital Raising
        10. AIFMD-Related Events
      2. US Hedge Fund Adviser Regulations
        1. Registration and Reporting
        2. Incentive-Based Compensation
        3. JOBS Act
      3. Asia Pacific Asset Management regulation
      4. Other Jurisdictions’ Asset Management Regulation
      5. Systemically Important Financial Institutions ('SIFIs')
      6. Remuneration
        1. UK
        2. United States
        3. CRD IV and CRR
        4. AIFMD
        5. MiFID
      7. Shadow Banking
      8. Volcker Rule
      9. Other
      10. Systemic Risk Reporting
      11. Dealing Commission
      12. Corporate Governance
    2. Markets Regulation
      1. Bank/Capital Regulation
        1. Capital Requirements Directive
        2. EU Bank Structural Reforms
      2. Derivatives/Clearing
        1. EMIR
        2. MiFID II / MiFIR - Derivatives
        3. MAD / MAR
        4. Dodd-Frank Act Title VII
        5. Hong Kong
        6. IOSCO
        7. Singapore
      3. High Frequency Trading
        1. ESMA Guidelines
        2. MiFID II / MiFIR - HFT
        3. MAD / MAR
        4. Flash Crash
        5. IOSCO
        6. Germany
        7. CFTC Automated Trading
      4. Insurance Regulation
        1. Solvency II
      5. Market Abuse
        1. MAD / MAR
        2. Indices as Benchmarks
      6. Position Limits
        1. MiFID II - Commodities
        2. CFTC Position Limits
      7. Resolution of Financial Institutions
        1. Europe
          1. EU Bank Recovery and Resolution Directive
          2. EU Non-Bank Recovery and Resolution
        2. CPSS-IOSCO
        3. Financial Stability Board
        4. UK
        5. USA
      8. Short Selling
        1. EU Short Selling Regulation
        2. Hong Kong Short Selling Regulation
        3. US Short Selling Regulation
        4. Short Selling Bans
      9. Securities Settlement
      10. Shadow Banking
        1. International Shadow Banking
        2. EU Shadow Banking
      11. Trading
        1. Dodd-Frank Act
        2. MiFID Portal
    3. Tax Affairs
      1. Automatic Exchange of Information (AEOI)
        1. FATCA
        2. EU - AEFI
        3. OECD - Global Standard on AEFI
      2. Australia - Investment Manager Regime (IMR)
      3. Base Erosion - Profit Shifting (BEPS)
      4. FAIFs and FINROFs
      5. FIN 48 and IAS 12
      6. Financial Transaction Tax (FTT)
      7. UK Investment Management Exemption (IME)
      8. UK Offshore Funds Regime
      9. Other
    4. AIMA's Policy Principles
    5. Search
    6. Resources
      1. Guidance Notes
      2. Jurisdictional Guides
      3. Noticeboard
        1. AEOI: FATCA and other regimes
        2. AIFMD
        3. BEPS
        4. CFTC Registration and Exemptions
        5. Corporate Governance
        6. Dealing Commission
        7. Derivatives
        8. FTT
        9. High Frequency Trading
        10. MiFID / MiFIR
        11. Other Hot Asset Management Topics
        12. Other Hot Markets Topics
        13. Other Hot Tax Topics
        14. Position Limits
        15. UK Partnership Tax Review
        16. Trading
        17. UCITS
        18. Volcker Rule
      4. Hedge Fund Manager Training
      5. Quarterly Regulatory Update
      6. Webinar Programme
      7. Regulatory Compliance Association
        1. About the Regulatory Compliance Association
        2. RCA Curricula and initiatives for alternative investment firms
        3. Meet the regulators and Sr. Fellows
  7. Education
    1. Research
      1. AIMA Research
      2. Industry research
      3. Search research documents
    2. "The Case for Hedge Funds"
      1. Global Hedge Fund Industry Paper: The value of our industry
      2. The Value of the Hedge Fund Industry to Investors, Markets and the Broader Economy: Research commissioned by AIMA and KPMG
      3. The Evolution of an Industry: KPMG/AIMA Global Hedge Fund Survey
      4. Contributing to Communities: A global review of charitable and philanthropic activities by the hedge fund industry
      5. Beyond 60-40: The evolving role of hedge funds in institutional investor portfolios
      6. The Cost of Compliance: Global hedge fund survey by AIMA, MFA and KPMG
      7. Capital Markets and Economic Growth: Long-term trends and policy challenges
      8. Apples and Apples: How to better understand hedge fund performance
      9. The Extra Mile: Partnerships between hedge funds and investors
      10. Key articles by AIMA on the case for hedge funds
    3. AIMA Journal
      1. Recent issues
      2. Search AIMA Journal articles
      3. AIMA Journal Archive
    4. AIMA Guides to Sound Practices
    5. AIMA guides for institutional investors
    6. CAIA Association pages
      1. Fundamentals of Alternative Investments
    7. Regulatory Compliance Association pages
      1. About the Regulatory Compliance Association
      2. RCA Curricula and initiatives for alternative investment firms
      3. Meet the regulators and Sr. Fellows
    8. Certified Investment Fund Director programme
    9. Services to Start-up Managers
    10. Useful Websites
    11. Glossary
  8. Events
    1. AIMA Events
    2. AIMA webinars
    3. Industry events
  9. Media
    1. Press Releases & Statements
    2. AIMA's blog
    3. Media Coverage
      1. Articles by AIMA
        1. Archive
      2. AIMA in the news
      3. Video interviews
      4. Industry news
    4. Media Contact
    5. Press Materials
    6. Photos of Jack Inglis