AIMA calls new hedge fund rules impractical and unworkable

GLOBAL hedge fund body AIMA yesterday raised concerns over new rules by the European Union to crack down on hedge funds and private equity firms.

AIMA said that although it fully supports the EU’s Alternative Investment Fund Managers (AIFM) directive, it called some of the proposals “impractical and unworkable”.

AIMA chief executive Andrew Baker said: “We are concerned that the directive singles out our industry for special treatment and imposes controls and burdens that it does not place on other financial market participants.”

Baker said the document did little to note legal and practical feasibility of the amendments.