Direction of the directive

Andrew Rubio of Throgmorton asks if the EU's Alternative Investment Fund Managers directive is smart regulation or political shambles?

The EU’s Alternative Investment Fund Managers directive (AIFMd) is not a popular piece of draft legislation among the alternative investment management industry in London. The battle to curb its worst excesses continues in Brussels. However, when you actually speak with most managers you realise there is a certain professional resignation to the changes being imposed and that alternative investment fund managers are getting on with the business of managing their clients’ capital. Many are taking a ‘wait-and-see’ attitude to developments and are optimistic about the future, at least until th...