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AIMA Welcomes Ecofin Conclusions


Date: Wednesday, May 9, 2007
Author: Press Release

London 8th May 2007. The Alternative Investment Management Association (AIMA) welcomes the Council of European Finance Minister (ECOFIN) conclusions this afternoon on hedge funds.

These conclusions highlight a number of important issues regarding the positive and efficient development of the global hedge funds sector of interest and concern to all stakeholders.

In particular, AIMA welcomes ECOFIN’s acknowledgment that hedge funds add significantly to fostering the efficiency of the financial system and notes that the so-called ‘indirect supervision’ and development of hedge funds’ risk management systems have so far enhanced resilience to systemic shocks.

AIMA reinforces the fact that European hedge fund managers and their counterparties are already fully regulated while also recognising the need for investor protection where hedge funds are available to the European retail market.

AIMA looks forward to continuing its work with the EU Institutions on these issues and their forthcoming discussion at June's European Council in Brussels.

Editors Note:

About AIMA

As the only truly representative global hedge fund association, AIMA, the Alternative Investment Management Association, has over 1,100 corporate members worldwide, based in 47 countries.

Members include leading hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting services and fund administrators. They all benefit from AIMA’s active influence in policy development, its leadership in industry initiatives, including education and sound practice manuals and its excellent reputation with regulators, worldwide.

AIMA is a dynamic organisation that reflects its membership’s interests and provides them with a vibrant global network.

AIMA is committed to developing industry skills and education standards and is a co-founder of the Chartered Alternative Investment Analyst designation (CAIA) – the industry’s first and only specialised educational standard for alternative investment specialists. For further information, please visit AIMA’s website www.aima.org

For further information, please contact Eoin Brophy, Hume Brophy Communications on +44 (0)20 7499 8736 or +353 86 851 5477