AIC welcomes regulation of alternative fund managers
The AIC has today welcomed the Treasury’s ‘Regulations for Alternative Fund Managers’ Consultation, and the FCA’s ‘Call for Input: Future regulation of alternative fund managers’.
The Association of Investment Companies (AIC) has today welcomed the Treasury’s ‘Regulations for Alternative Fund Managers’ Consultation, and the FCA’s ‘Call for Input: Future regulation of alternative fund managers’.
Richard Stone, Chief Executive of the Association of Investment Companies (AIC) said: “We welcome the proposals to develop a lighter touch and more proportionate regime within the Alternative Investment Fund Manager regulation. This should allow investment companies to effectively compete with other investments on a more level playing field. Developing tailored, proportionate rules will help investment companies continue to deliver superior returns for investors and make investments in UK businesses that support higher levels of economic growth.
“We will be consulting with our members on these important proposals and look forward to working with the FCA and Treasury. It’s positive that the Treasury and FCA have acknowledged the unique features of investment companies and their ability to contribute to the UK’s growth agenda due to their suitability for investing in illiquid assets such as private companies, infrastructure and renewable energy.
“It’s clear from today’s announcements that the scope of the Alternative Investment Fund Manager Directive (AIFMD) does not impact the application of cost disclosure to investment companies. The inclusion of investment companies within the scope of the AIFMD supports the AIC’s response to the Consumer Composite Investment (CCI) disclosure consultation, that the regulated Alternative Investment Fund Manager should have regulatory responsibility for cost, and other regulated retail disclosures.”
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- The Association of Investment Companies (AIC) represents a broad range of investment trusts and VCTs, collectively known as investment companies. The AIC’s vision is for closed-ended investment companies to be understood and considered by every investor. The AIC has 304 members and the industry has total assets of approximately £270 billion.
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