Question to the HM Treasury:

To ask Her Majesty's Government what plans they have to publish their response to the European Commission’s review of the Alternative Investment Fund Management Directive, and in particular the question on the delegation of portfolio management by funds in the EU to entities based in third countries.

The UK is a global leader in asset management and UK firms manage portfolios for clients located around world, including in the EU. The government is a strong supporter of portfolio delegation as an international norm in cross-border financial services that ensures investors around the world have access to the best investment expertise. The Treasury engages with EU counterparts on a range of issues and publishes consultation responses where it is appropriate to do so.

Through the Asset Management Taskforce and other engagement, the Treasury continues to work closely with industry leaders to identify opportunities to promote the UK asset management sector and the interests of the investors it serves.