Asia-based funds will be forced to rethink the ways they
raise money, their fund structures and their operational
infrastructure if the EU’s Alternative Investment
Fund Management (AIFM) directive goes through.
The AIFM directive will prevent delegation of fund
management outside the EU. As a result, funds with their
headquarters in Asia could be prevented from raising money in
Europe, and global funds could be prevented from delegating
investment management to Asia.
The directive provides for a marketing passport, but this
will not come into effect for three...