AIMA & Scotiabank - Handbook to Launching Alternative Mutual Funds in Canada
Published: 12 December 2018
AIMA & Scotiabank canvassed industry leaders and experts to produce a reference handbook for managers and service providers as the industry prepares to launch Alternative Mutual Funds under finalized amendments to National Instrument 81-102 (NI 81-102).
On October 4 2018, the Canadian Securities Administrators (CSA) published the final iteration of amendments to NI 81-102 (subject to a 90-day adoption period). These new rules will modernise the regulation of investment funds in Canada, as they allow hedge fund managers and traditional mutual fund manufacturers to create mutual funds that employ alternative strategies.
Under the new regulation, retail investors in Canada will have access to a wider range of investment strategies that were previously available to accredited investors. However, these opportunities also present implementation challenges to various industry stakeholders.
Over a suite of reference materials, including a reference handbook, a recorded instructive webinar and accompanying information slides, AIMA, Scotiabank & other contributors address the final rules, launch considerations, opportunities and challenges when developing, launching and distributing Alternative Mutual Funds. In addition, key data points garnered from the AIMA & Scotiabank Market Impact Survey on the potential adoption of alternative mutual funds are included in these resources.
The following items are addressed in the handbook:
- Potential impact on the Canadian alternative investment landscape
- Legal issues and launch considerations
- Prime Brokerage services
- Fund distribution
- Strategies for Alternative Managers
- Fund administration
- Audit and accounting
AIMA and Scotiabank would like to thank the individuals and firms who contributed to this important project, as well as the AIMA Canada Legal, Finance & Compliance Committee volunteers who continue to be instrumental in providing guidance to the CSA.
For more information, please contact:
Director, Head of Canada, AIMA
Chair, AIMA Canada Executive Committee 2018-2020
Managing Director, Head of Canadian Prime Services, Scotiabank