Managing & Valuing MBS / ABS Portfolios

157 Pages·2016·8.14 MB·English

Fund Valuation Under AIFMD
A SPECIALIST WORKSHOP FOR AIFM DIRECTORS, OFFICERS, ADMINISTRATORS, ACCOUNTANTS
AND LEGAL/COMPLIANCE PROFESSIONALS
2
IAN BLANCE
Introduction
MANAGING DIRECTOR
VOLTAIRE ADVISORS LLP
Morning Agenda
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 0900 Introduction – Ian Blance, Voltaire Advisors
 0915 Growing Up: A New Environment for Hedge Funds – Niamh Mulholland, KPMG
 0945 AIFMD & Valuation – Ken Owens, PwC
 1015 Coffee
 1045 AIFMD & the External Valuer – Ryan McNelley, Duff & Phelps
 1115 Evaluated Pricing & Fund Valuation Requirements To Mitigate Risk and Regulatory Exposure – Ozan
Tuzunalper, Thomson Reuters
 1145 AIFMD, Pricing Vendors & Models - Ian Blance, Voltaire Advisors
 1200 Lunch
Opening Remarks
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Significant
Regulator Policy makers
on-going
focus on Buy- assessments
attention to
Side (SIFI of the recent
fund policies
debate) financial crisis
& procedures
Source: Citi Global Regulatory Affairs Regulatory Ecosystem
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“
Confusion now hath made his masterpiece
”
W S , M
ILLIAM HAKESPEARE ACBETH
Valuation as an Existential Issue
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Yes, need to Comply with regulation …

… but sound valuation also needed to:
Survive, and;

Thrive

Sound valuation is an existential issue for hedge funds
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Growing Up: A New
NIAMH MULHOLLAND
Environment for
DIRECTOR
KPMG
Hedge Funds
Growing Up: A New
Environment for
Hedge Funds
Fund Valuation under AIFMD –Voltaire Advisors
5 May 2016
© 2016 KPMG, an Irish partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in
Ireland. 9
Overview
 Overview of the Objectives of AIFMD
 Impact of AIFMD – Key Points from the 2015 Global Hedge Fund Survey
 On-going Discussions
 What's Next?
© 2016 KPMG, an Irish partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in
Ireland. 10