4-consulting were commissioned to study The Real Economic Impact of the EU’s Alternative Investment Fund Managers Directive. Hedge funds, private equity funds, commodity funds, real estate funds and infrastructure funds (among others) will be covered by the AIFMD.
4-consulting used a macroeconomic model to simulate the impacts of the AIFMD and other recently established regulations. The report outlined that the asset management sector in Europe is a major component of the economy, underpinning hundreds of thousands of jobs. The sector in the EU has, until now, enjoyed a competitive advantage that may well be eroded by the AIFMD at significant cost at a time when the EU is recovering from recession.
The European Commission had made no serious attempt to evaluate these risks. The economic impact assessments produced by the European Commission were notable for their lack of empirical evidence on the impacts of the AIFMD.
“The policy and modelling work undertaken by 4-consulting helped us produce a clear and robust series of reports.”
Tom Miers, Director of New Direction Foundation for European Reform (August 2014)