Newsletter-21

250 NEWSLETTER 2016 Gradually, the aim of creating a secure EU framework for moni- toring and supervising alternative investment funds, including hedge funds, private equity, venture capital funds, real estate funds and in- vestment trusts is reached. While a parallel regulatory regime is in place for Turkey, there is still no progress regarding a grant for Turkish AIFs. However, it is highly likely that the ESMA will keep issuing its opinion for other non-EU countries about passports for AIFs based on such countries, hopefully also including Turkey.