Wednesday, 25 November 2015
Last updated 3 hours ago
Jul 13 2012 | 12:50pm ET
Hedge funds aren't the only asset management shops worried about the European Union's tough new alternative investment regulations.
Twenty traditional asset managers and investors are warning that the planned rules will have unintended consequences for their own businesses. The firms, which include Allianz, BlackRock, Fidelity Investments and Schroders, argue that one of the new regulations, which seeks to prevent hedge funds from registering at a "letter box" in one jurisdiction while operating from another, is too broad.
The asset managers told Michel Barnier, the European Commission's internal markets chief, that the rule could hurt their own ability to have risk and portfolio management decision-makers based in the market in which they are investing.
"We are extremely concerned that the forthcoming 'Level 2' implementing measures for the Alternative Investment Fund Managers Directive will undermine the single market," even disrupting UCITS fund management, the firms wrote.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…