The Alternative Investment Management Association (AIMA) published a guide to setting up and managing a liquid alternative fund. The global industry group's document summarizes a range of issues fund managers face in setting up either a UCITS fund in Europe or a mutual fund registered under the Investment Company Act of 1940 in the U.S., outlining practical considerations for managers' consideration. Topics covered include major regulatory and tax developments, as well as the requirements and practices affecting liquid alternative funds domiciled in Ireland, Luxembourg and the U.S. A survey published earlier this year by AIMA, the Managed Funds Association and KPMG found that approximately one-in-four managers planned to launch at least one alternative UCITS fund over the next five years, while about 15% of managers said they planned to launch at least one '40 Act fund by 2020.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
