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ARTICLE · 29 FEBRUARY 2016

Funds Bulletin - December 2015

The European Securities and Markets Authority (ESMA) has published an updated version of its questions and answers (Q&As) document on the application of the Alternative Investment Fund Managers Directive (the AIFMD).

GlobalFinance and Banking
Hogan Lovells
Hogan Lovells

1. GLOBAL AND EU DEVELOPMENTS

1.1 IOSCO: third hedge fund survey

The International Organization of Securities Commissions (IOSCO) has published a report on the findings from its third hedge fund survey, which include:

  • the Cayman Islands remains the most popular domicile and managers are mainly US based;
  • hedge funds remain mostly US dollar denominated, and mainly invested in North American assets;
  • the use of equity-based strategies remains the most popular;
  • financial leverage is used by hedge funds globally, except in Japan;
  • hedge funds appear aware of the market liquidity of their portfolio positions, and can generally manage investor redemptions through suspensions and gating.

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