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Hedge funds

The hedge fund industry in Europe is bracing itself for the impact of extensive new regulations initiated by politicians and regulators in the aftermath of the financial crisis of 2007 - 2009. The Alternative Investment Fund Managers Directive (AIFMD) which comes in to force in the EU on 22 July 2013 will introduce major changes affecting the management, marketing, custody and administration arrangement for hedge funds. Changes to Switzerland's Collective Investment Schemes Act are also scheduled to come in to force in 2013.

At the same time changes to the UCITS regulations have seen numerous funds established to deploy hedge fund strategies in a UCITS structure to broaden the investor base for such funds.

How the hedge funds team can help

Within our Financial Institutions Group we have a team of lawyers dedicated to advising hedge fund management businesses. Our hedge funds team advises established hedge fund management businesses and start-up hedge fund businesses. We have a strong and cohesive team of hedge fund, investment management, tax and fund structuring lawyers, significant experience of working with clients to design start-up hedge fund management businesses and a tax team heavily involved with HMRC and the Treasury on fund tax developments. Our experience covers advising on establishing hedge funds, funds of hedge funds and hedge fund management businesses in a range of jurisdictions including Cayman, Bermuda, Luxembourg, Ireland, Malta, Gibraltar, Monaco and Guernsey.

We have closely monitored the progress of the new European regulations and are advising clients on preparing for them as the implementing measures progress.