Posts Tagged ‘E.U.
E.U. Moves Ahead with AIFM Directive Legislation
On Tuesday, E.U. finance ministers approved plans to reign in hedge funds with tough new oversight rules, overriding the objections of the UK (and, more specifically, the City of London), where some 80 percent of European hedge funds are estimated to be based. The proposed legislation aims to subject so-called “alternative investment funds” to greater [...]
Oh, Canada… AIMA Finally Decides to Oppose E.U. AIFM Directive
So it appears that Canada finally woke up and realized that the AIFM drama that’s been dominating the European stage for the past little while just might have an impact on its own burgeoning hedge fund industry which manages about US$25 billion according to FINalternatives. A little late to the party, but better late than [...]
U.K., European Pension Trends
According to Pensions & Investments, an annual survey of 1,000 of Mercer’s clients representing in excess of €500 billion ($670 billion) indicates that despite performance, liquidity and fraud concerns highlighted by the recent global financial crisis, U.K. and European pension funds are looking to boost hedge fund-of-funds investments in 2010. The survey found that 13.6 [...]
Obama Calls G20 to Act on Financial Reform
In a Monday letter to the G20 which can be read on the Huffington Post, President Obama laid out several key components of his push for international financial reform and called for the the group of nations to “lead by example.” The G20 are set to convene in Toronto in June where, after a long [...]
Fears Surrounding “Newcits” Threat
Hedge fund industry players are increasingly calling for action from the E.U. authorities because they fear that the popularity of the UCITS ‘brand’, which has enabled EU-based funds to be marketed around the world, is being threatened by the use of the structure by hedge fund managers. The ability of UCITS managers to use derivatives [...]
Lawmakers Say UK Won’t Delay AIFM Rules Long
According to a Bloomberg report, the temporary reprieve granted to the UK by European Union finance ministers decision last week to postpone talk of the final wording of the Alternative Investment Fund Managers Directive, which would force funds based outside the E.U. to comply with restrictions on bonuses and leverage if they want to market [...]
UCITS Boast Superior Returns
According to a Bloomberg report, assets managed by UCITS funds have risen to $52.3 billion over the last two years in an effort by hedge fund managers to appeal to investors seeking funds compliant with E.U. rules. UCITS, known by an acronym for Undertakings for Collective Investment in Transferable Securities, are a set of E.U. [...]
E.U. Hedge Fund Reform Stalled For Now
Tuesday’s meeting of the European finance chiefs in Brussels resulted in an unsurprising stalemate over proposed Alternative Investment Fund Manager legislation to place restrictions on hedge fund activity in the E.U., an E.U. official said. The AIFM legislation was set to be vote upon by the Economic and Financial Affairs Council (Ecofin), but the item [...]
E.U. Moves Ahead with Restrictive Hedge Fund Legislation Despite Opposition
Facing criticism from London and the U.S., the E.U. continues to move ahead with proposed legislation designed to restrict hedge fund speculation in Europe. The proposed law is meant to do three things: protect investors, reduce risks to the financial system and increase the transparency of hedge fund operations. U.S. Treasury Secretary Timothy Geithner has [...]
Hedge funds bet on Greek debt default, Germany “Can’t Confirm” Hedge Fund Clampdown
In response to Greece’s economic troubles, this month hedge funds have raised their bets on Greece’s economic woes by shorting its bonds or buying default protection. According to the New York Times, the country has been in economic turmoil since the new Socialist government revealed in October 2009 that the budget deficit would hit 12.7% [...]
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