AIMA backs advancement of EU’s AIFMD reforms

The global trade association for alternative funds has given its guarded approval to the European Parliament’s for endorsing the proposed reform of the AIFMD regulation.

The Alternative Investment Managers Association (AIMA) welcomed EU lawmakers’ advancement of the AIFMD reforms, praising the “balanced approach” of the reforms while also accepting that there are some elements within the proposals that are “difficult to justify”.

AIMA deputy CEO and global head of regulatory affairs Jiří Król said: “Although the legislation restricts the operation of loan origination funds in a manner that is difficult to justify, the legislation manages to avoid, thanks to the Parliament, some of the more disruptive policies that were put forward during the negotiations.

Efama report on AIF market and AIFMD review

“The rest of the package reflects a balanced approach that builds on existing market practice on delegation and liquidity risk management. It should set a solid foundation for the EU alternative asset management industry going forward, especially when it comes to addressing financial stability concerns.”

Król also called on EU lawmakers and regulators to give the industry time to implement these latest reforms and meet their current requirements before amending any other major directives.

“Let us hope we will not see any other major reviews any time soon, allowing the sector to focus on putting capital to work across the EU,” he said.

AIFMD 2 should quell politicisation of delegation rules

The European Parliament’s advancement of the AIFMD amendments was also welcomed by the Managed Funds Association as a positive step for EU investors as well as alternative fund managers.

“Advancing the agreement ensures EU investors retain access to global expertise and European businesses have access to the funding they need to grow, create jobs, and innovate,” said Jillien Flores, MFA executive vice president, managing director, and head of global government affairs.

“MFA believes that the AIFMD framework will foster a more competitive, efficient, and dynamic Capital Markets Union.”

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