Tag: AIMA

AIMA

Survey: Asset Managers Uncertain About Mifid II Rules

new rules, according to a survey by the Alternative Investment Management Association (AIMA).

Fund managers globally that responded to the survey said that their biggest challenge regarding Mifid II is uncertainty about what the rules contained within the regulation actually mean – both their scope and substance – as well as what they perceived to be a lack of clarity relating to the cost and nature of services provided by brokers.

The survey showed that 34% of alternative asset managers are undecided about how they will pay for research following the implementation of Mifid II. Of those that have made decisions around how to pay for research, 80% plan to charge investors and the remaining 20% intend to absorb the costs themselves.

AIMA Publishes MiFID2 Guide

The Alternative Investment Management Association (AIMA) has published a guide for investment managers to help them understand and implement the requirements of the European Union’s updated Markets in Financial Instruments Directive (MiFID2), which will apply from January 2018.
The guide received significant input from leading law firm Schulte Roth & Zabel, who are also sponsors of the guide.
AIMA says the MiFID2 Guide aims to provide investment managers with a better understanding of which aspects of MiFID2 are relevant to them, what the rules require and what practical steps they can take to ensure compliance with the new framework.

Hedge Funds Outperform Stocks, Bonds: Survey

Hedge funds outperformed equities and bonds on a risk-adjusted basis in 2016, according to the Alternative Investment Management Association (AIMA) and data provider Preqin.
Hedge funds’ risk-adjusted return, as measured by the Sharpe ratio, was 1.45 for the year, ahead of the S&P 500 (1.1), MSCI World (0.68) and Barclays Global Aggregate (0.20) indices, according to AIMA and Preqin, who based their analysis on a database of more than 3,000 funds.
The analysis finds that hedge funds also outperformed stocks and bonds on a risk-adjusted basis over three years and five years.

Liquidity Conditions “Here to Stay” – Survey

A new survey of hedge funds finds that almost half of respondents believe that decreased market liquidity “is a secular shift that is here to stay”.
The study was conducted by State Street in partnership with the Alternative Investment Management Association (AIMA). It finds that regulations stemming from the 2008 financial crisis, coupled with historically low interest rates and slow rates of growth in the global economy, have constrained the ability of many banks to perform their traditional roles as market makers, which in turn has impacted broader market liquidity conditions.

New Study Highlights Hedge Fund Tech Spending

Hedge fund managers are increasing their investment in technology to create competitive advantages and address regulatory and operational concerns, according to a new study by KPMG International, the Alternative Investment Management Association (AIMA) and the Managed Funds Association (MFA).

The study polled more than 100 global hedge fund managers representing approximately $300 billion in assets under management (AUM) and found that 90% of these firms are investing in technology to improve controls and compliance. A similar amount, 88% of respondents, said that efficiency objectives were their top reason for investing in technology.

AIMA Unveils New Chair, Board

The Alternative Investment Management Association (AIMA) has announced a new chairman and the formation of a new AIMA Council, the Association’s global board of directors.
Taking over as AIMA Chair is Simon Lorne, vice chairman and chief legal officer, Millennium Management. He replaces the former SEC commissioner Kathleen Casey, who served as chair of AIMA from September 2012.
AIMA has also announced four new additions to the council – Robyn Grew, chief administrative officer and general counsel, Man Group; Han Ming Ho, partner, Sidley Austin; Ryan Taylor, partner and global head of compliance, Brevan Howard Asset Management; and Michael Weinberg, senior managing director, chief investment strategist, Protégé Partners.

Hedge Fund Managers Tweak the Model to Retain Assets

Hedge fund managers are becoming more innovative and open to negotiation over fees in return for the ability to lock in assets for longer.
According to a survey conducted by the Alternative Investment Managers Association (AIMA), managers are changing their business models and “exploring a broader set of arrangements designed to improve the alignment of interest between themselves and their investors”.
The study, In Concert, is, AIMA claims, the most extensive undertaken by the association into the design of manager remuneration, investment terms and other methods of deepening the relationship with investors.