FSA's Hedge Fund Paper Warmly Received By Industry Body

by Justin Gorringe, Tax-News.com, London

02 September 2002

The UK's Alternative Investment Management Association (AIMA) has welcomed the publication of the 'Hedge Funds and the FSA' discussion paper, released on Wednesday 21st August 2002. The paper opens up a discussion on a possible relaxation of the UK's regulatory environment to allow greater access to hedge funds for retail investors.

The Association says it recognises the need for open discussion regarding potential developments of the UK regulatory regime and says the discussion paper accurately summarises the current UK regulatory environment in relation to hedge funds and poses very clear questions for consideration by the UK hedge fund industry and other interested parties.

AIMA is co-ordinating a response to the discussion paper from its UK membership, which will be submitted by the deadline of 29th November 2002.

AIMA says it is similarly and continuously involved in producing guidelines for the hedge funds industry, be it on due diligence, sound practices or performance reporting.

The association's objectives are: to increase investor education, transparency and promote due diligence and related best practices; to ensure the representation and integration of skill-based investments into mainstream investment management; and to work closely with regulators and interested parties in order to better promote and control the use of alternative investments. Its membership includes fund of funds managers, institutional investors, hedge funds, prime brokers, exchanges, fund administrators, auditors, lawyers and other service providers. Member companies are based throughout Europe, North America, Asia, Australia and the Middle East.

Recommended