Offshore: Wait and see
Arguably, far too much has already been written about the European Union's Alternative Investment Fund Managers Directive. Some of it, though, has been of great help to the industry. Awareness of the potential problems posed by some of the earlier drafts has helped to rein in at least a few of the excesses. Less helpful has been the plethora of advisers keen to claim that they have the answer to all of your structuring needs, despite the fact that at the time of writing we are still not at a point at which we can say with certainty where the directive will end up. New jurisdictions have even offered to solve problems that have not yet been posed.
With the final form of the Alternative Investment Fund Managers Directive still unclear, investors should be wary of the wilder claims flying around. Appleby’s Gray Smith sorts the fact from the fiction
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