Preqin’s recent survey of 220 hedge fund managers around the world reveals that there is still uncertainty surrounding the Alternative Investment Fund Managers Directive (AIFMD) among many managers, with 40% of managers that will be impacted by the AIFMD waiting for finalisations of regulations and further advice from their local regulators before taking action.
These interviews also revealed that North American hedge fund managers that will be affected by the AIFMD are less prepared than their European counterparts, with 51% of North America-based respondents looking to market their funds to European investors already compliant or will be compliant by July 2014 compared to 64% of respondents based in Europe that will be impacted by the regulation.
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Other Key Facts:
- 22% of hedge fund managers interviewed by Preqin that will be impacted by AIFMD are already compliant, and 3% of those affected feel they will not be compliant by the July 2014 deadline.
- 72% of hedge fund managers interviewed will be impacted by the AIFMD; 28% will not be affected, either because they do not market within the EU or they have no active funds.
- 65% of all North America-based hedge fund managers interviewed stated that they will be affected by AIFMD. 44% of North America-based managers affected by the AIFMD are waiting on further advice from legislators in their jurisdiction.
- Larger hedge fund managers that will be impacted by the AIFMD are the most prepared – 65% of those fund managers interviewed with assets under management over $1bn are either already compliant or will be by July 2014, compared to just 31% and 54% of those in the $500-999mn and the $100-$499mn brackets respectively.
- There is mixed sentiment from investors over the impact of regulation launched in the industry, with 35% feeling regulations will be positive and 22% thinking the opposite. Many investors are unsure of the impact regulations will have.
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By GlobalData
