AIFMD could result in fewer fund managers, says survey

Of the respondents – which included property fund managers, private wealth managers, depositary banks and private equity firms – 63% expect a decrease in the number of fund managers across Europe as a result of the new regulations coming into force from July 22.

Overall, 49% named the required documentation, transparency and reporting to authorities as the directive's most worrying requirement. Almost 40% think that AIFMD will encourage the development of the offshore fund management industry. The poll also highlighted that only 17% of the respondents were not prepared for the upcoming AIFMD changes.

Nick Powlesland, head of European valuations at Knight Frank, said: "This directive should lead to more investor confidence and better pan-European marketing and cross-border sales opportunities, but funds haven't got long. The scope of the directive is very wide-ranging, applying not just to fund managers but many types of collective investment vehicles. There is a major focus on valuation policies and procedures and professional guarantees required from the valuer, which clients need to address. They need to take heed and speak to well-informed advisers as quickly as possible."

The AIFMD is set to regulate the marketing and managing of funds (other than UCITS) within the European Union. This includes all European-based AIFs and fund managers.

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• Topics
• Regulation
• AIFM Directive
• EU Commission