Citywire.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.
