Displaying items for 2014

The European Union’s (EU) Alternative Investment Fund Managers Directive (AIFMD) is an all-embracing piece of legislation that will have an enormous impact on the operations, business practices and cost overheads of New City Initiative members.It imposes many onerous restrictions on EU investment fund managers, and non-EU firms marketing to institutional investors in the region. For example, it requires them to appoint a depositary bank; to implement restrictions on remuneration packages; and to submit to stringent regulatory and investor reporting obligations. The appointment of a depositary bank to provide safekeeping of assets, cash-flow monitoring and oversight has proved less burdensome than…

A packed audience of NCI members and others heard Tilman Lueder – in charge of the asset management division at the European Commission in Brussels – give an insight into the EC’s thinking on Wednesday 17 September. In an engaging speech, Mr Lueder emphasised that the EC is not about “regulation for the sake of regulation”, but is keen to see the creation of much bigger cross-border investment flows, and the “conquering of new markets” such as China. Mr Lueder, a lawyer by training who formerly represented the EC in the World Intellectual property Organisation (WIPO), spoke for almost an hour…

Nine young men and women this week started a two-week summer internship programme organised and funded by New City Initiative (NCI), the association of 45 asset and wealth managers based in the City of London and Paris. The paid internships are supported by some of NCI’s leading member firms, who collectively account for some £400 billion in assets under management. The nine undergraduates kicked off with a day of seminars by senior figures from NCI member firms, including Somerset Capital, Stanhope Capital, Oldfield Partners, and Mayfair Capital. The students, all academic high-achievers, are studying at the Universities of Central Lancashire, Leeds,…

Capital Wars By Daniel Pinto, Bloomsbury, £25 hardback 'Daniel Pinto has written a remarkable book.  He begins with an informed and merciless analysis of how the West has strayed; and then goes on to propose a practical programme for change that makes instinctive and inspiring sense: all in admirable English.  If our leaders are wise enough to read, digest and apply, the West will be entitled to fear less and hope for more than current opinion holds.' Sir Martin Sorrell, CEO, WPP For more infomation, please click here