The Alternative Investment Management Association (AIMA) has announced its support for the recent conclusions of the Council of European Finance Minister (ECOFIN) on hedge funds.
AIMA says that these conclusions highlight a number of important issues regarding the positive and efficient development of the global hedge funds sector. In particular, AIMA said ECOFIN’s acknowledgment that hedge funds add significantly to fostering the efficiency of the financial system and notes that “indirect supervision” and development of hedge funds’ risk management systems have so far enhanced resilience to systemic shocks.
AIMA says it believes that European hedge fund managers and their counterparties are already fully regulated while also recognising the need for investor protection where hedge funds are available to the European retail market.
These issues will be discussed further in June at European Council in Brussels.