Archives: Real Estate Funds

Subscribe to Real Estate Funds RSS Feed

10 takeaway points on Luxembourg’s RAIF

The Luxembourg law on reserved alternative investment funds (RAIF) is a welcome addition to the alternative investment funds (AIF) industry and we have seen keen interest from the fund and asset management industry in this new platform. Since its introduction last summer, for the first time in Luxembourg there is the ability to set up … Continue Reading

ESMA Advice Extending the AIFMD Passport: Including the United States, Hong Kong, Singapore and Switzerland

On 18 July 2016 the European Securities and Markets Authority (ESMA) published its advice to the European Parliament, the Council and the Commission on the application of the Alternative Investment Fund Managers Directive (AIFMD) passport to non-EU Alternative Investment Fund Managers (AIFMs) and Alternative Investment Funds (AIFs) in twelve non-EU countries: Australia, Bermuda, Canada, Cayman … Continue Reading

Brexit for asset managers and fund managers – don’t panic, it may not be as bad as it at first appears!

UK regulated fund managers and asset managers should bear in mind that, while the Brexit vote has occurred, this does not bind the UK Parliament. As of the date of writing (12 July 2016), the process of withdrawal under Article 50 of the Lisbon Treaty has not yet started. Although the timetable for withdrawal under … Continue Reading

AIFMD Passporting Update

EU regulated AIFMs promoting EU domiciled AIFs – We have lived with AIFMD since the full implementation date of 22 July 2014 with the marketing passport being available from that date for EU regulated AIFMs promoting EU domiciled AIFs. The ESMA Opinion – Use of the AIFMD Passport – ESMA published its Opinion on 30 July 2015 … Continue Reading

Is breaking up hard to do?

Click here for a discussion by Reed Smith partners Dale Gabbert and Jacqui Hatfield, together with the Funds Europe Editorial, on the issues a eurozone break-up would present for fund managers. Dale and Jacqui identify the levels at which a fund manager needs to analyse risk, including entity risk and service provider risk. This article was published in the … Continue Reading

Draft Finance Bill 2012 Published – Confirmation of Proposed Changes to REIT Regime

As anticipated in our blog of 11 November 2011, last week HM Treasury published the draft Finance Bill 2012 containing proposed changes to the UK’s Real Estate Investment Trust (REIT) regime. Background REITs are tax-efficient property investment companies. They were first developed in the US but were introduced in the UK in 2007. Australia, France … Continue Reading

Informal consultation on REITs measures – Government feedback

On 13 October 2011, HM Treasury published its feedback on the informal consultation exercise proposed at Budget 2011 and carried out over the summer on potential changes to the Real Estate Investment Trust (“REIT”) regime. The proposed changes remove a number of barriers to entry to new REITs as well as promoting good business practice … Continue Reading

Now they tell us – EU admits AIFMD may not be suitable for venture capital

On 1 July 2011, the European Union Directive on Alternative Investment Fund Managers (AIFMD) was published (PDF) in the Official Journal of the European Union and is now law. It is no secret that, since the European Commission first mooted the concept of a generic platform for regulating non-retail investment management in Europe, there has been strong criticism … Continue Reading

AIFM Directive – Happy to sit and wait in the sun?

The controversial European Alternative Investment Management Directive (AIFMD), finally adopted by the European Parliament last November, was originally expected to be published in early 2011, so triggering a two year period in which Member States would be required to get their rule books in order to ensure consistent fund management regulation across the EU. Five … Continue Reading

Welcome to our new Blog!

Well, Spring has arrived in London, and it’s back to the office after a long and rather eventful bank holiday weekend. It started with the new Duchess of Cambridge wowing the world with her wedding dress and finished with the news that the U.S. had finally got their most wanted man. These events rather overshadowed the other big news of … Continue Reading