European Fund Regulation – Just Like London Buses?

September 27, 2013

It is often said that you wait a considerable amount of time for a London bus to arrive, and then three turn up at once. If they are all going in the same direction, then (barring a breakdown) your choice should be relatively easy – but what if the route is a mysterious acronym that could set you down a path that might not get you to your destination, or only get you there in a roundabout way?

Until very recently – UCITS apart – it was left to individual European Union (“EU”) member states to determine whether and how alternative investment funds were regulated and marketed. 22 July 2013 saw not just one new regime come into force – and much has been written elsewhere about the Alternative Investment Fund Managers Directive (“AIFMD”) – but two additional, lesser-known regimes that certain investment managers may want to consider using. So what is behind those other two acronyms, EuVECA and EuSEF, when compared with the better-known AIFMD?

To read the full analysis, please click here.