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By Yves de Naurois, Co-Founder and Chairman – Arkus Financial Services
A year ago an association of risk professionals asked us to comment on the impact of the regulation on risk management practice within Private Equity Funds. Was it effective and was it meeting the needs of investors? Twelve months down the road and given the growing perception that institutions measure risk from a regulatory rather than an economic perspective, the question is worth addressing again.
By comparison with the UCITS directives and subsequent guidelines which have become increasingly prescriptive, the AIFMD and related Delegated Regulations are still essentially principle based, which would tend to infirm the above perception;...
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