Trade bodies for the fund management industry have joined forces to call for amendments to the "unworkable" fund marketing restrictions in the controversial Alternative Investment Fund Managers' Directive, warning that the current draft could seriously damage the competitiveness of the European financial services industry.

In a letter emailed to individual Members of the European Parliament on May 12, which has been seen by Financial News, the Investment Management Association, the National Association of Pension Funds and the Alternative Investment Management Association, appealed for their support in Monday's vote in the Economic and Monetary Affairs committee on the draft report on the AIFM proposal.