AIMA

04 February 2009

The Alternative Investment Management Association (“AIMA”), the trade body for the global hedge fund industry, has responded to the European Commission’s Consultation Paper on Hedge Funds and called for a global response to the current crisis.

AIMA’s CEO, Andrew Baker, said: “AIMA is dealing with policy makers and regulators at a national, European and international level on the future regulatory framework of the hedge fund industry. While we do welcome this initiative by the European Commission, the current problems are global and therefore we believe that ultimately, a coherent, global response is needed. 

The Commission is right to address areas of concern about the hedge fund industry. I would say that many of these issues are not unique to hedge funds and should not be looked at in isolation.  It is also important to stress that the hedge fund industry in Europe is currently regulated and that regulatory framework has shown itself to be robust in very difficult market conditions. 

The hedge fund industry in Europe and elsewhere has been hit very hard by the current crisis, but has responded in an orderly way and has not triggered any systemic risks. Hedge funds did not cause the present market turmoil and because they have an essential role in providing liquidity to the markets, are important in assisting any eventual recovery.

We look forward to working with the Commission and other bodies to formulate a regulatory framework for the future and we believe the active cooperation and leadership we are providing on behalf of the industry will prove helpful.”

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For media enquiries, please contact Christen Thomson, AIMA Director of Communications, on +44 (0)2078228380; email – cthomson@aima.org

Editors’ Notes:

About AIMA
As the only truly representative global hedge fund association, AIMA, the Alternative Investment Management Association, has 1,280 corporate members worldwide, based in 47 countries.

Members include leading hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting services and fund administrators.  They all benefit from AIMA’s active influence in policy development, its leadership in industry initiatives, including education and sound practice manuals and its excellent reputation with regulators, worldwide.

AIMA is a dynamic organisation that reflects its membership’s interests and provides them with a vibrant global network. AIMA is committed to developing industry skills and education standards and is a co-founder of the Chartered Alternative Investment Analyst designation (CAIA) – the industry’s first and only specialised educational standard for alternative investment specialists. For further information, please visit AIMA’s website. 

Further information

The European Commission's consultation paper can be found here.

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