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US takes row over EU hedge funds directive to Brussels

A delegation of American congressmen is flying into Brussels this week to dispel mounting trade tensions between the US and Europe over hedge funds.

Worries centre on the European Commission’s directive on alternative investment fund managers. The hedge fund industry claims that if it is enacted according to the current draft, it could cost European pensioners up to €25bn a year by shutting out American and other non-EU based investment vehicles. That would result in a major reduction of choice for large investors, who as a consequence would suffer increased costs and lower returns.

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