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AIMA PUBLISHES NEW AIFMD IMPLEMENTATION GUIDES


Date: Thursday, April 17, 2014
Author: AIMA Press Release

London – 17 April 2014: The Alternative Investment Management Association (AIMA), the global hedge fund industry association, has published a new set of practical guides for hedge fund managers wishing to comply with the Alternative Investment Fund Managers Directive (AIFMD). 

 

The new guides cover three of the most important EU jurisdictions for the industry - the UK, Ireland and Luxembourg - and build on the generic AIFMD implementation guide that AIMA published in January 2013.

 

The new guides are intended to help managers understand how the AIFMD as implemented in the UK, Ireland and/or Luxembourg will impact their business and set out some of the strategic and operational choices that they face in order to respond to and comply with the AIFMD as transposed into national law in those countries.

 

The UK guide, AIMA said, is targeted at managers either already present in the country or considering establishing a business there, while the Irish and Luxembourg guides are perhaps most relevant to managers considering setting up funds in those jurisdictions.

 

The Irish guide was produced jointly by AIMA and the Dublin office of Maples and Calder, the international law firm, while the Luxembourg guide was a production of AIMA and Elvinger, Hoss & Prussen, the Luxembourg law firm.

 

Jack Inglis, AIMA CEO, said: “We hope that these practical guides for the UK, Ireland and Luxembourg improve managers’ understanding of what they need to do in order to establish a business or fund in those locations.

 

“Ever since the level II text of the AIFMD was agreed in 2011, AIMA has played a leading role in helping the industry meet the challenge of complying with the AIFMD. AIMA’s generic implementation guide helped the industry better understand the basic requirements of the AIFMD across the EU as a whole, but it is only now, with the July 2014 implementation deadline approaching, that we have a clearer picture of how the AIFMD will be applied in some of the most important EU jurisdictions for our industry.”

 

Peter Stapleton, Partner, Maples and Calder, said: “We have been tracking the development of the AIFMD and advising our clients and their international counsel on the impact of the AIFMD across their Irish, Cayman Islands and BVI structures since the first draft texts were published almost five years ago. During that time we have seen particular interest in the co-domiciliation of international fund structures and the increasing use of Irish vehicles for management and marketing in the EEA. We are therefore delighted to partner with AIMA in producing the Irish guide. As we enter the key implementation phase for the AIFMD, with the first transitional periods expiring, the Irish guide will be an extremely valuable tool for all market participants, providing a clear and accessible overview of strategic options in Ireland and a wide range of opportunities for dealing with the AIFMD.”

 

Jérôme Wigny, Partner at Elvinger, Hoss & Prussen, said:  “Luxembourg’s implementation of the AIFMD will be of particular interest to AIF managers worldwide who keep the evolution of the Luxembourg landscape under close scrutiny. This guide should prove to be a very useful tool for both managers and the wider hedge fund community alike. Although the AIFMD will open up new marketing horizons to AIF managers, it inscribes itself within a wider global trend of increased legal and regulatory complexity in the financial sphere. We are honoured to collaborate with AIMA on this guide.”

 

-  Ends -

 

Note to editors

The implementation guides can be downloaded on this page of the AIMA website: www.aima.org/en/aifmd/implementing-aifmd

Please note that the guides themselves are available only to AIMA members.

 

For media enquiries, please contact:

Christen Thomson, AIMA’s Head of External Affairs

Tel: +44 (0)20 7822 8380

Email: cthomson@aima.org

 

About AIMA

As the global hedge fund association, the Alternative Investment Management Association (AIMA) has over 1,400 corporate members (with over 7,000 individual contacts) worldwide, based in over 50 countries. Members include hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting firms, investors, fund administrators and independent fund directors. AIMA’s manager members manage a combined $1.5 trillion in assets (as of March 2014).

 

All AIMA members 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 members’ 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.

 

About Elvinger, Hoss & Prussen

Elvinger, Hoss & Prussen was founded in 1964 by lawyers committed to excellence and creativity in the provision of legal services. The founders of the firm were among the first to foresee the role that Luxembourg was about to play as a leading European financial centre.

 

For decades, the partners of the firm have played an instrumental role in the construction of the legal and regulatory environment which is crucial to the success of the Luxembourg financial sector. In this context, the firm pioneered instruments and legal structures before they were recognised by law and regulations and used on a daily basis in financial transactions. Today the firm advises on high-profile local and international transactions for a global client base. For more information please visit EHP’s website: http://www.ehp.lu/

 

About Maples and Calder

Maples and Calder is a leading international law firm advising financial, institutional, business and private clients around the world on the laws of the Cayman Islands, Ireland and the British Virgin Islands.

Maples and Calder has offices in the Cayman Islands, the British Virgin Islands, Dubai, Dublin, Hong Kong, London and Singapore.

 

With a reputation as an innovative, entrepreneurial firm, Maples and Calder is known worldwide as a market leader with highly qualified lawyers who are specialists in their respective practice areas.

 

About MaplesFS

MaplesFS is a leading specialised fiduciary and fund services provider. MaplesFS has offices in the Cayman Islands, Delaware, Dubai, Dublin, Hong Kong, Luxembourg, Montreal, New York and Singapore.

 

MaplesFS is led by a team of experienced professionals and is committed to providing a high level of service, tailored to specific client requirements.