The Alternative Investment Management Association is siding with the U.K. on more lenient rules for hedge funds, private equity and other alternative investments, warning that the proposed regulations in the Alternative Investment Funds Directive  “would hit fund managers and investors around the world” by making it difficult for them to access the European Union market.

By essentially locking other hedge funds out of the EU market, AIMA said, the rules would be protectionist, reducing choices for investors, increasing costs and, thus, lowering returns.

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