Declan Quilligan, European Head of Hedge Funds of Citco Fund Services discusses the current state of the hedge fund industry in Europe and how the role of the hedge fund manager has evolved.

One of the most persistent narratives since the global financial crisis has been the sheer volume of new regulation introduced across the globe. According to one estimate, between 2008 and 2015, there was a 492% increase in global regulatory requirements. Now, a new source of complexity is arising from the fragility of transnational institutions and trade relationships.

Managers based in the EU and managing EU-domiciled funds will be fully subject to GDPR in respect of all personal data they process whether or not it relates to an EU individual. Non-EU funds managed by EU managers will also be subject to GDPR.