Regions

EUROPE - The revised text of the European Directive on Alternative Investment Fund Managers (AIFM) outlining limitations on ways hedge funds and private equity managers are paid has been released.

NEW ZEALAND - Legislation allowing new Zealanders working in Australia to move their retirement savings back to their home country will be introduced into Parliament in the next two weeks, said minister of finance Bill English.

EUROPE - The CFA Institute does not believe the European Union directive requiring more regulation of alternative asset managers will harm the alternatives business, and a recent CFA survey shows many members support some aspects of the proposal.

EUROPE/GERMANY - The European Commission asked Germany to amend its legislation on taxation of dividends paid to German pension funds, arguing the higher tax paid by foreign investors is discriminatory against non-German pension funds.

GLOBAL - Worldwide investment fund assets increased 5.4% to €14.39trn (US$21.2trn) at the end of the second quarter of 2009 due to strong inflows, data from the European Fund and Asset Management Association revealed.

EUROPE - The European Commission has adopted additional proposals clarifying the scope of the new European Supervisory Authorities.

GLOBAL - The Caisse de dépôt et placement du Québec (Caisse) and AXA Private Equity have entered into a partnership aimed at helping Québec and European-based businesses expand internationally.

EUROPE - The vast majority of UCITS asset managers are set to consolidate their various companies as they prepare for the implementation of the UCITS IV directive.

GLOBAL - Pension funds in emerging market countries have outpaced those in developed countries as they recover from the financial crisis, a report by the Organisation for Economic Co-Operation and Development found (OECD).

EUROPE - The European Commission has adopted additional proposals clarifying the scope of the new European Supervisory Authorities.