AIFMD Archives | Page 2 of 4

Risk Reporting – Here be Dragons

As an ex-physicist, I will always hold true to the, very subjective, opinion, that much of financial theory is just a case of physics wannabees. The fact that two psychologists, Kahnemnn and Tversky won (well at least one of them) a deservedly Nobel prize in economics, merely confirms my prejudice. That being said, this note […]

May 24, 2021, by administrator

ESG – Data Management

“Toto, we are not in Kansas anymore” As Dorothy stepped out of her ruined house in Oz, she realised that she had gone from a dull, grey, black and white Kansas to a technicolour Oz. I am not sure how many people in the funds management arena realise it, but we are fast approaching a […]

May 17, 2021, by administrator

Greensill

The Essence of Risk Management – Lessons from Greensill Greensill. History does not repeat, but sometimes it rhymes. And then sometimes it does actually repeat. Long story short, magician financier reinvents a neglected area of finance, adds some secret sauce and hey presto, turns BBB or worse assets into AAA assets that yield AA returns. […]

May 7, 2021, by administrator

CP86

CP86: A Risk Managers Perspective So, it is finally here – the much-vaunted Central Bank of Ireland (“CBI”) feedback on the implementation of CP86[1]. From a purely risk management perspective the path this leads ManCos/UCITS and AIFMs down is interesting. It is widely acknowledged in the Irish funds industry that any application to set up […]

November 4, 2020, by administrator

Illiquidity

There is nothing like jumping on a bandwagon to validate one’s internal prejudices, however it must be admitted that some of the criticism of the Woodford fund management process is entirely justified. Firstly, given the mostly rational stance that adherence to long term investment principles is predicated on rising asset values, requiring investors to be […]

June 18, 2019May 30, 2022, by administrator

ESMA and Substance in the Funds Industry

ESMA released some important opinions over the summer. A crucial and highly relevant paper[1] concerns the UK’s forthcoming withdrawal from the EU and “addresses cross-sectoral regulatory and supervisory arbitrage risks that arise as a result of increased requests from financial market participants seeking to relocate in the EU27 within a relatively short period of time”. […]

September 11, 2017, by administrator

UK Dual Funds Regime

A recent paper published by the New City Initiative (NCI) proposes that the UK government set up a dual funds regime to help asset managers deal with many of these worst case scenarios of Brexit. “A dual funds regime would allow UK managers with EU interests to continue to comply with EU laws and […]

February 20, 2017, by administrator

Risk : The Next Five Years

Below we have reproduced an article in the September issue of the NED magazine – ned-sept-2016-risk-article-2 Perhaps the most important current development in alternative fund governance is in what is happening at fund board level on risk. Traditionally boards have had little to no proper information on risk at all. Most boards might get […]

October 13, 2016, by administrator

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