Aima publishes AIFM directive guides

Aima publishes AIFM directive guides

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The Alternative Investment Management Association (Aima) has published a new set of practical guides for hedge fund managers wishing to comply with the Alternative Investment Fund Managers (AIFM) directive.
 
The guides cover three of the most important EU jurisdictions for the industry - the UK, Ireland and Luxembourg - and build on the generic implementation guide that the association published in January 2013.
 
They are intended to help managers understand how the directive as implemented in the UK, Ireland and Luxembourg will impact their businesses and set out some of the strategic and operational choices they face in order to respond to and comply with the directive.
 
The UK guide is targeted at managers either already present in the country or considering establishing a business there, while the Irish and Luxembourg guides are described as being most relevant to managers considering setting up funds in those jurisdictions.
 
The Irish guide was produced jointly by Aima and the Dublin office of Maples and Calder, while the Luxembourg guide was produced in conjunction with Elvinger, Hoss & Prussen.
 
Peter Stapleton, partner Maples and Calder said, “We have been tracking the development of the AIFM directive and advising our clients and their international counsel on its impact across their Irish, Cayman Islands and BVI structures since the first draft texts were published almost five years ago.

"During that time we have seen particular interest in the co-domiciliation of international fund structures and the increasing use of Irish vehicles for management and marketing in the EEA.”
 
Jerome Wigny, partner Elvinger, Hoss & Prussen added, “Luxembourg’s implementation of the AIFM directive will be of particular interest to AIF managers worldwide who keep the evolution of the Luxembourg landscape under close scrutiny.

"Although the AIFM directive will open up new marketing horizons to AIF managers, it inscribes itself within a wider global trend of increased legal and regulatory complexity in the financial sphere.”
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