ESMA To Recommend on Passporting of Funds Outside the EU Post Brexit
Posted: Sun Jul 10, 2016 1:16 pm
ESMA, the Paris-based European Securities and Markets Authority, is due to make recommendations this month as to whether hedge funds, private equity and real-estate funds based in some countries outside of the European Union should be able to continue selling products within the 28 nation bloc.
ESMA’s recommendations could decide the future of London as the hedge-fund capital of Europe, along with the $906 billion of assets that money managers control. Any opinions will be closely monitored by London-based fund managers who were last week reported by Finance Magnates to be considering boosting their presence in the EU to read more)