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For immediate release: Thursday 23 June 2005
IMA REACTION TO FSA DISCUSSION PAPERS ON HEDGE FUNDS AND WIDER RETAIL PRODUCTS
Following the release of two FSA discussion papers DP05/3 Wider retail investment products: Consumer protection in a rapidly changing world and DP05/4 Hedge funds: A discussion of risk and regulatory engagement IMAs Chief Executive, Richard Saunders commented:
Todays discussion papers are a welcome step towards formalising the debate on more complex retail investment products and on hedge funds. IMAs members will take an active involvement in these discussions, both as managers of regulated and unregulated products and as users of capital markets.
The UK already manages 75% of European hedge funds and therefore the industry has the capability to manage such funds onshore. IMA members, as investment managers of a wide range of institutional and retail investment products, have a great deal of valuable experience to contribute to these discussions.
IMA, however, encourages the UK authorities to widen the debate further to include the tax position of such products.
IMA will submit a full response in due course.
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For further information, please contact:
Helen Stephenson, Communications Officer, IMA, 020 7831 0898
Mona Patel, Head of Communications, IMA, 020 7831 0898
Out of hours contact:
Mona Patel, Head of Communications, IMA, 07834 089332
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