CEO Message
AIMA’s many working groups and committees – not to mention our global events and webinars – means that our members are never short of opportunities to engage with us, but 2023 required an even greater degree of collaboration to successfully navigate the challenges of the past year.
Chief among these hurdles was the decision to litigate against the SEC on not one but two points of contention with its over-zealous and damaging regulatory proposals, namely the Private Funds Adviser Rules, and the with securities lending and short position reporting rules. In each case, the decision to proceed with a legal challenge – in partnership with other trade bodies – was made following extensive engagement with our global membership and the unanimous assent of AIMA’s council.
Protecting the interests of our members and the entire alternative investment industry is the guiding principle behind everything AIMA does and our ability to do that is underpinned by your ongoing support of our work, for which we are extremely grateful.
Further details of AIMA’s work and engagement with its members are laid out in this review. We welcome feedback from our members on how we continue to build on these efforts next year.
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Jack Inglis
Chief Executive Officer, AIMA
Year in Review Summary
Regulatory Influence & Compliance Implementation
2023 was one of the busiest year’s in AIMA’s history when it came to our advocacy engagement globally.
AIMA’s work in the US focused mostly on the Securities and Exchange Commission’s rulemaking docket culminating in our team responding to over 78 consultations and taking the unprecedented step to launch a legal against the SEC regarding the Private Fund Advisers Rule and the Securities Lending and Short Sale Rules.
Elsewhere in Europe, after a long period of negotiation, 2023 eventually saw agreement on the AIFMD review. By and large, the changes are relatively benign, and we have managed to fend off the most harmful potential elements that were being proposed. Other big industry wins over the past year include the finalisation of the much improved ELTIF regulation that will significantly boost the growth of private market investment strategies across Europe, particularly for retail investors. In the UK, we were delighted with the sweeping package of UK regulatory reforms; changing short selling rules to protect the confidentiality of investment managers positions as well as the rethink around securitisation which will be a huge benefit to the UK hedge fund industry.
In APAC, AIMA actively championed the interests of its members by engaging extensively with regional regulators and policymakers culminating in our team responding to over 10 regulatory and producing two strategic roadmaps reminding everyone of the importance of Hong Kong and Japan as leading global financial centres.
Compass: Practical Guides, DDQs, Insights
Given the high volume of content published by AIMA each year, we restructured our large library of practical guidance, DDQs, thought leadership and insights to make them more accessible to members. All this content can now be found by using Compass, a new navigation tool found on the AIMA.org homepage.
In 2023 AIMA added 18 new DDQs, industry guides and sound practice guides crafted by our various member working groups, covering everything from valuation of investments, generative AI, digital assets as well as several implementation guides to help navigate you through the maze of regulatory and compliance issues impacting your business.
The past year also saw AIMA add to its rich library of industry insights with our annual reports on private credit and digital assets, strategic roadmaps for Japan and Hong Kong as well as a pair of deep dive reports examining how alternative asset managers are aligning interests with their investors.
Communications and Stakeholder Engagement
2023 saw AIMA’s ‘360 Comms Strategy’ which focuses on stimulating engagement via short-form digital content resulted in us doubling our media references with one in four being references from Tier 1 media publications.
A key area of success was the increase in visibility of AIMA’s advocacy efforts in the US, to be well positioned to push key messaging around high-priority regulatory themes and in anticipation of litigation to challenge the US SEC’s highly damaging rulemaking. Other key themes where AIMA has been quoted on extensively this year include short selling, ESG, and digital assets.
Investor Engagement continues to flourish under the stewardship of our global investor board, featuring some of the world’s most influential allocators to the alternative asset management industry.
Events
We hosted over 200 events over the past year drawing over 17,000 attendees from across the world, including senior policymakers, regulators, institutional investors, fund managers and other industry specialists.
Our large in-person forums are also now back in force thankfully in the APAC region while our other flagship events continue to grow in influence and draw record numbers.
For more information on AIMA's events, to view playbacks from 2023 and to register to upcoming events click here.
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Thank you
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The Long-Short podcast
The Long-Short is a podcast by the Alternative Investment Management Association, focusing on the very latest insights on the alternative investment industry.
Each episode will examine topical areas of interest from across the alternative investment universe with news, views and analysis delivered by AIMA’s global team, as well as a host of industry experts.
In the last episode of The Long-Short of 2023, AIMA CEO, Jack Inglis, looks back at one of the busiest-ever years for the association and the alternative investment industry, and sets out AIMA's stall for what to expect in 2024.
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