BETTER FINANCE response to the KPMG Survey on the functioning of the AIFMD

Private investors suffer from a plethora of funds in Europe compared to the US, the induced very small average size of EU domiciled funds is a key driver for fees more than twice higher on average in Europe (in the example of equity funds), not mentioning the added complexity and difficulty to choose a fund for European private investors. On the contrary, UCITS funds (which tend to be larger, cheaper, more transparent and internationally distributed) are rarely marketed to private investors since intermediaries prefer to sell them more expensive and less transparent "AIFs".

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