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As a consequence of the financial crisis, the asset management industry faces a wave of regulation, which will bring major changes. The Alternative Investment Fund Managers Directive (AIFMD) is one part of this regulatory puzzle. The impact of the AIFMD on hedge funds was the topic of a conference organised by ALFI, the association of the Luxembourg fund industry. ALFI chairman Marc Saluzzi (picture) spoke about the challenges the local fund industry faces.
At the end of 2011, Luxembourg’s alternative fund management industry had 180 billion euro of assets under management, alternatives UCITS (Undertakings for Collective Investment in Transferable Securities) included. This number does not include the offshore funds administered but not domiciled in Luxembourg and the...
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