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Alternative Market Briefing

EDHEC-Risk study finds UCITS hedge funds underperform their non-UCITS rivals

Thursday, April 04, 2013

Beverly Chandler, Opalesque London: A new study from the EDHEC-Risk Institute finds that UCITS hedge funds underperform their non-UCITS rivals. The research is drawn from the Newedge research chair on "Advanced Modelling for Alternative Investments" at EDHEC-Risk Institute. The principal finding is that UCITS hedge funds are typically more volatile and underperform their non-UCITS hedge fund rivals. It is also revealed that the domicile of a fund is an important indicator of a fund’s likely performance, with European domiciled funds delivering lower risk-adjusted returns compared to funds domiciled in other regions.

The EDHEC-Risk Institute study was based on an aggregate hedge fund dataset consisting of more than 24,000 unique hedge funds, and, EDHEC-Risk claims, is one of the most comprehensive analyses of the performance and risks of UCITS hedge funds and non-UCITS hedge funds undertaken in recent times.

Commenting on the results of the survey, Noël Amenc, Director of EDHEC-Risk Institute, said: "Investors are increasingly considering hedge funds as part of their investment universe, but are also searching for access to sophisticated risk management techniques within the regulated and transparent world of mutual fund products. We are delighted that this study supported by Newedge has been able to shed light on the way in whic......................

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