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Speaking at a forum this week hosted by DMJ Recruitment and London law firm Macfarlanes, lawyers blamed legislative amendments for causing widespread confusion, with the Alternative Investment Fund Managers Directive (AIFMD) singled out as a main source of uncertainty.
Beatriz Meldrum, general counsel at London-headquartered fund Edoma Partners, told the meeting: ‘We know where the flags are but don’t have the answers. Ultimately investors may end up picking up the costs.’
The future of the euro was also a cause from concern, with Ms Meldrum saying: ‘It is the uncertainty that is killing us.’
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