ABI: Hedge fund proposals could harm savers
Jean-Paul Gauzes MEP, the rapporteur in the European Parliament for the EU’s proposed Alternative Investment Fund Managers (AIFM) Directive, has today published a draft report on the Directive. It supports plans to limit the ability of European pension funds to invest in third country funds, and proposes other restrictions. In response Peter Montagnon, the ABI’s Director of Investment Affairs, said:
“There is a real danger of throwing the baby out with the bath-water with this Directive. Those who invest in financial markets on behalf of European savers need to be able to make sensible decisions within a well-regulated global market and not, as proposed, be excluded from key markets.
We will be suggesting amendments to the Directive in this and other key areas, and would urge MEPs to consider the needs of savers. Pensioners in Europe will be worse off if pension funds cannot diversify their asset allocation because their choices are unnecessarily restricted.”
Notes for Editors
The report can be seen here
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