Majority of alternative investment managers unprepared for AIFMD
A week ahead of the AIFMD deadline, a majority of alternative investment managers are not yet compliant with the new legislation, according to a survey conducted by fund structuring specialist Alceda and London-based research firm Kepler Partners.
Some 47 percent of alternative investment fund managers indicated that they had still not filed under the AIFMD directive and 19 percent said they were planning to submit an application before the deadline on 22 July. Only 32 percent of respondents confirmed that they were AIFMD compliant.
About 30 percent of respondents cite depositary costs, remuneration and the end of private placement as key concerns for their business. At the same time, over 40 percent believe in the benefits of a EU-wide distribution passport and increased investor confidence under the AIFMD brand.
Michael Sanders, CEO and Chairman of the Board of Alceda Fund Management S.A. commented on the results: “What is clear from this survey is that there is still an element of wait and see about AIFMD, but we feel that the real winners of the future will be those alternative managers that readily embrace EU regulation, be it under UCITS or AIFMD.”
The survey was conducted among 56 alternative fund managers with a combined AUM of USD300bn represented firms across Europe, Asia-Pacific and the US.