I would like to open by welcoming the first contributions to this publication from writers that are not from AIMA members. By opening up the journal to non-members, we hope to bring a greater variety of perspectives on the alternative investment industry to better inform our global readership. 

Not that the AIMA Journal has ever struggled with offering insights on a wide range of topics of the moment for the alternative investment industry. In fact, this edition is an exemplary one which takes readers on a journey through various jurisdictional and thematic trends of the moment. 

The full breadth of ESG trends is addressed, with a compelling explainer on impact investing in agriculture, alongside an update on how regulators are increasingly scrutinising diversity in the financial services industry and are likely to require disclosure of certain metrics in the next few years.

Unsurprisingly, the significant US regulatory changes, including the recently confirmed Form PF final rule, are prominently discussed throughout the journal. In the EU, readers are also provided with the latest on the implementation of ELTIF 2.0 and the Trialogue negotiations on AIFMD 2.0. AIMA’s Government and Regulatory Affairs team have been tirelessly working on all these live regulatory issues – and many more besides – and those seeking further information should visit the AIMA Newswire and the Compass section at AIMA.org. 

Alongside the mega-trends of our industry, we are also happy to provide more granular articles that offer a walk-through of the market environments where trend following investment strategies perform best and how arbitrage can improve the performance of fixed-income portfolios. 

Of course, the AIMA Journal covers all aspects of the alternatives investment industry, not just hedge funds. This edition features the latest data on capital flows into different segments of real estate investing. There is also an insightful review of the operational challenges facing family offices. 

As always, my sincere thanks go to all those who contributed to this edition of the Journal. If you would like to contribute to our next edition, please contact my colleague Caterina Giordo who can advise on further details.