Alternative Investment Management Association
19 December 2012
The Alternative Investment Management Association (AIMA), the global hedge fund association, has responded to the publication of the final text of the implementing measures of the Alternative Investment Fund Managers’ Directive (AIFMD) by the European Commission.
The publication of the final text marks the conclusion of the current EU-wide legislative process and will shift the focus to a national level, with EU member states required to transpose the Directive into their national laws. Depending on the nature of their operations hedge fund firms may have to comply as early as July 2013 while many existing EU managers may have until July 2014 to apply for AIFMD authorisation.
Andrew Baker, AIMA CEO, said: “We are pleased that the text of the implementing measures of the AIFMD has been published. This will enable the global industry to make its final preparations for implementing the Directive by July 2013.
“We have engaged intensively with European and international policymakers ever since the release of the first draft of the AIFMD back in 2009, and while we may not agree with all of the final provisions – notably on areas like depositaries and delegation – it is now important to look forward. There is still a lot of work to do, and AIMA will be playing a leading role on behalf of its members.”
AIMA has pledged to assist the industry in meeting the various requirements. It recently announced that it will be developing an operational guide to the AIFMD, which will enable hedge fund firms to track their compliance readiness as they approach the deadline. AIMA also will publish a handbook on the Directive that will aim to provide practical guidance regarding the AIFMD’s requirements.
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For media enquiries, please contact -
Dominic Tonner, AIMA’s Communications Manager.
Tel: +44 (0)20 7822 8380;
As the global hedge fund association, the Alternative Investment Management Association (AIMA) has over 1,300 corporate members (with over 6,000 individual contacts) worldwide, based in over 50 countries.
Members include hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting firms, investors, fund administrators and independent fund directors. 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 members’ 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, www.aima.org.