ALFI, also known as the Association of the Luxembourg Fund Industry, brought its semi-regular breakfast roadshow back to New York City last week to discuss the impact the Alternative Investment Fund Managers’ Directive would have on the country’s investment industry.
With the implementation of final rules for AIFMD around the corner, the panel of Luxembourg-based financial industry executives at the March 6 conference focused on answering the concerns of the investment industry professionals in attendance who may be affected by the new legislation.
For the first time, hedge funds across the European Union will be consistently regulated under the AIFMD. Currently in the “Level 2” of implementing final rules, AIFMD is expected to take effect on July 22.
Marc Saluzzi, chairman of the Association of the Luxembourg Fund Industry, told eVestment that the AIFMD will make the process “more efficient” for managers who are looking to set up funds in the EU as they only “need to go through one central regulator,” as opposed to registering through each country.
ALFI is the official representative body for the investment fund industry within Luxembourg, home to over 760 hedge funds and fund of hedge funds with nearly $200 billion in assets under management.