Nearly 200 fund managers and advisers attended a Guernsey event in London this week to hear the practical aspects of implementing the Alternative Investment Fund Managers Directive (AIFMD).
Fiona Le Poidevin, CEO of Guernsey Finance, said: “AIFMD has dominated a large proportion of the coverage relating to the European funds industry over the past couple of years but the deadline for EU and EEA Member States to transpose the provisions of AIFMD into national law was 22 July this year. Now we are able to look at the practical aspects of implementation, including examples of the types of structures that are emerging.”
Panelists at the event included Cathy Pitt, Phil Bartram, Carl Rosumek and Justin Partington, commercial director at Ipes.
Ben Morgan, partner at Carey Olsen, moderated the panel session and also provided an overview of AIFMD and how it relates to the industry in Guernsey.
John Newlands, head of investment trust research at Brewin Dolphin, said: “I am extremely impressed that representatives from Guernsey’s finance industry have taken the trouble to come to London to stage this informative event. It’s far easier to get a handle on these technical issues face-to-face.”
As well as AIFMD, other topics covered at the event included portfolio and risk management, as well as bilateral discussions on private placement and Guernsey as a depositary centre of excellence.
Nik Hood, head of investment funds London at BC Partners, said: “It reinforced how undefined everything is. It was quite useful to hear that the professionals are also uncertain of all the details. It’s just a case of being patient.”
