UK hedge funds may jump ship over EU Directive

The proposed Alternative Investment Fund Managers Directive would need the rubber stamp of EU member states and the European Parliament before becoming law, which would likely happen in 2010. Presently, the directive applies to alternative investment fund managers, with a portfolio topping €100m. A heftier threshold of €500m is proposed for asset managers who do not use leverage and lock-in investors for a five year period. The European Commission predicts around 30% of EU hedge fund managers, who manage nearly 90% of assets in EU-domiciled hedge funds, would fall into the categories, ...