Hedge fund regulation to capture listed fund sector
Wednesday, May 6, 2009 : PermalinkCitywire.co.uk – European regulation intended to introduce some controls on hedge funds will inadvertently capture almost all investment trusts.
Draft rules released by the European Commission define ‘alternative’ funds as any non-UCITS investment fund, said the Association of Investment Companies.
Among the proposals unsuited to listed funds is a requirement to allow for the redemption of all shares and the assumption that one manager will be responsible for both asset management and administration.
Tags: asset-management, assumption, citywire, draft rules, european commission, investment-companies, investment-trusts, proposals, redemption, ucits investment fund
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