New FAIF rules welcomed by IMA

The launch of new rules governing the use of Funds of Alternative Investment Funds (FAIFs) has been welcomed by the Investment Management Association (IMA).

Due to come into force on March 6th, the new regime will enable greater flexibility in the structure of the FAIFs, which can be invested in a range of underlying finds.

The changes enable corporate investors - such as private banks - to access the new tax-efficient authorised property fund regime through a feeder fund and also include safeguards to protect investors against risk.

Julie Patterson, director of authorised funds and tax for the IMA - which aims to promote the needs of the investment management industry in the UK - said that the changes ’will enhance the UK’s position as a domicile for a wider range of funds’.

’The introduction of FAIFs is good news for product innovation and investor choice,’ she added, noting that they allow those looking to utilise their personal wealth to access a ’wider range’ of investment opportunities.ADNFCR-2318-ID-19642697-ADNFCR