The Alternative Investment Management Association (AIMA) has issued a press release warning that if the EU pushes through the Alternative Investment Fund Managers Directive its impact will go far beyond the hedge fund and private equity industries. AIMA’s warning came ahead of two key votes on the Directive - in the European Parliament’s Economic and Monetary Affairs Committee (ECON) on 17 May and the Economic and Finance Council (ECOFIN) meeting of European finance ministers on 18 May.
Andrew Baker, Chief Executive Officer of AIMA said:
“We are particularly concerned about measures which would ban European investors from accessing funds outside the European Union. Major investors in alternative investments include pension funds and insurance companies, and there would be very negative social consequences across Europe if their investments were adversely influenced by such a ban. Ordinary European citizens would have to pay higher pension contributions and insurance premiums.”
View AIMA warns of wider impact of AIFM Directive, 14 May 2010