Does loyalty lie with the lawyer or the law firm?
Big changes were afoot in the London hedge fund legal scene last week, after New York-based Akim Gump swooped on Simmons & Simmons
16/06/2010
AIFM process hit by third-country deadlock
The EU Parliament is at loggerheads with its legislative counterpart, the Council of Member States, over plans to allow third-country investment funds access to Europe, as AIFM Directive negotiations becomes deadlocked with the finishing line in sight.
Jean-Paul Gauzés, the Directive’s parliamentary representative, remains determined to push through his hard-line stance, which would see a marketing passport introduced but with the potential for an EU-wide ban on funds based in non-EU jurisdictions. The Council text ignores the passport, instead leaving marketing decisions to each individual member state – a stance favoured by the funds industry.
A vote on the final version of the Directive is scheduled for July, but, with negotiations gridlocked, could be postponed to one of the two plenary sessions in September.
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Editor's view: 8 February 2012
Speculative moves, a perceived landgrab and a potential bidding war in the hedge fund sector have all opened up in recent weeks
Comment: Julian Korek
"Advisers need to be analysing key considerations and determining where they fall in the spectrum of SEC registration; no easy task given the scope of the legislation"
Investor demand for CTAs is on the rise, says Agecroft Partners
Agecroft Partners is seeing widespread demand from institutional investors for Commodity Trading Advisors (CTAs), which is a dramatic change from the historical reluctance of many institutional investors and their consultants to allocate to this strategy.
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European Hedge Fund Services Awards 2012
HFMWeek's European Hedge Fund Services Awards are designed to recognise companies that have outperformed...
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