Challenges remain for Europe’s hedge fund industry
Working closely with the portfolio managers at Amundi Alternative Investments, François Bocqueraz sees both opportunities and challenges ahead for the hedge fund industry as it implements the alternative investment fund managers directive (AIFMD). Operational due diligence will continue and, to some extent, will be easier with AIFMD-compliant funds. However, other aspects such as custody rules will bring more complexity to the process. François also explains the relationship between his team of analysts and the portfolio managers tasked with fulfilling investment mandates and finding exactly the right kind of manager, strategy and vehicle to provide performance within a regulated onshore structure without losing the ability to select the best funds for a portfolio. Scalability and sustainability in a manager is as important as the investment strategy employed, and François believes AIFMD will help European investors embrace absolute returns strategies, which offer higher returns than most other investment options.