BAI board reelected

Association holds AGM 2008

(PresseBox) ( Bonn, )
Bundesverband Alternative Investments e.V. (BAI), the German lobby association for the alternative investment industry (i.a. hedge funds and private equity), held its 2008 annual general meeting in Frankfurt on 19 May 2008. The association has 129 members including not only suppliers of hedge funds and private equity but also investors (e.g. life insurers) and industry consultants.

Achim Pütz, the first chairman of the board, presented the assembly with the annual report for 2007. The activities of BAI were focussed on the collaboration on several bills presented in the Deutscher Bundestag, the German parliament. The association participated in expert-hearings by the finance committee of Deutscher Bundestag with regard to the proposed law amending the German investment law, the proposed law for the limitation of risks and the proposed law for the modernization of conditions for capital corporations. BAI submitted qualified comments on the proposed rules, but due to a still highly biased political environment these comments were not entirely followed. Therefore, a significant enhancement of conditions for hedge funds and private equity in Germany remains to be desired.

The association announced that it will continue to clarify purpose and relevance of alternative investments and that it will intensify its efforts to promote this part of the financial industry as well in politics and media as in the general public.

The members re-elected the office holders with a vast majority. Achim Pütz will continue to chair the board for another two year, while Dietmar Bahr, Michael Busack and Dr. Dirk Söhnholz were confirmed as deputy chairs of the board. Bastian Schmedding will remain treasurer of BAI.

Information about BAI, its members and the executive board can be found on the association's website at www.bvai.de
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