The Alternative Investment Management Association (AIMA) has welcomed the UK Financial Services Authority’s (FSA) proposal to allow authorised onshore Funds of Alternative Investment Funds (FAIFs).
AIMA said that it strongly believes retail investors should be in a position to take advantage of the opportunities afforded by alternative investments - provided investor protection provisions are adequate.
As the leading global hedge fund and alternative investment industry association, AIMA has over 1,100 corporate members worldwide, based in 47 countries. Its members include leading hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting services and fund administrators.
AIMA also believes that the FSA’s high-level approach - concentrating on appropriate due diligence by the FAIF manager as the most effective form of consumer protection - is the correct and sensible one.
Matthew Jones, Manager in AIMA’s Regulation Department, stated: “It is important to remember that the FAIF concept will not take off unless and until the underlying tax regime is resolved appropriately.
"We feel that the FSA understands this and is working with HMT on this issue. AIMA supports the FSA’s work and will continue to do so as the post-consultation process proceeds.”
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, trusts and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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