Fri, Oct 9, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Axiom Fund waives management fees - a first for the alternative UCITS sector

Tuesday, April 24, 2012
Opalesque Industry Update - Axiom Fund announced a major change in the fee structure of the Axiom UCITS Alternative Investable Index Fund (“the Axiom Fund”). The Axiom Fund has waived its management fees, becoming the first fund of funds in the alternative UCITS space to charge performance fees only.

Axiom Fundis taking this groundbreaking step to better align the interests of investors in the fund and lead the way in developing a new approach to fees for the UCITS industry. The 1% management fee will be replaced with a 10% performance fee, meaning that investors will now only pay fees when the fund delivers positive performance. The performance fee is subject to a high water mark.

Launched in December 2010, the Axiom Fund is the first investable index of UCITS hedge funds. It offers weekly liquidity and aims to replicate the performance of the UCITS Alternative Blue Chip Index (“the UAI Blue Chip Index”) provided by Alix Capital. The UAI Blue Chip Index is a rule based benchmark comprising the 50 largest UCITS hedge funds and is rebalanced quarterly.

Alessandro Mauceri, Chairman of the Board of the Axiom Fund, says: “The Axiom Fund addresses clients’ ongoing concerns regarding traditional funds of hedge funds, notably their opacity, lack of liquidity, the operational risk linked to such structures and the multiple layers of fees.

“In 2009, we were among the pioneers in entering the UCITS onshore hedge funds universe, enabling us to respond to the main concerns of investors. Today we are solving the last issue by waiving our management commission and charging only incentive fees. This ensures that our interests are truly aligned with those of our clients.

“Investors remain keen to allocate to alternatives in the search of alpha, but are challenging the approach of traditional investment vehicles. As the UCITS sector continues to grow we believe that inflows will follow the best UCITs products available. The Axiom fund gives investors easy access to these top tier funds in a highly transparent, cost efficient way.”

Louis Zanolin, CEO of Alix Capital, says: “Given their high liquidity and strong regulatory oversight, UCITS hedge funds are particularly well suited for index based products. The added benefit of real alignment of interests between investors and managers on this fund creates a compelling investment proposition for investors.”

Press release


What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - AQR Capital and Renaissance Technologies raise stakes in Southwest Airlines[more]

    From In the previous part of this series, we saw how institutional investors played Southwest Airlines (LUV) in 2Q15. Now let’s move on to the trades executed by key hedge funds in Southwest Airlines over the same period. … Most of the hedge funds that had significant exposu

  2. Manager Profile - Pimco alternative funds flourish as 30-year bond rally fades[more]

    From Inside Pacific Investment Management Co., the bond behemoth that lost two chief investment officers last year and saw almost $500 billion of client money leave, a hidden profit engine is easing some of the pain. For more than a decade, Newport Beach, California-based Pimco has qu

  3. Niche Investing - Art investment funds: Attracting institutional and other new investors[more]

    From The Deloitte/ArtTactic Art and Finance Report 2014 (the "Art and Finance Report") noted that the "global art investment fund market was estimated to be worth at least $1.26 billion in the first half of 2014." This seems almost inconsequential when juxtaposed with the $54 billion of

  4. Hedge fund Barnegat survives September’s market selloff[more]

    Komfie Manalo, Opalesque Asia: Bob Treue’s $679 million Barnegat Fund proved resilient after another month of market letdown as the hedge fund gained 2.2% last month, bringing its year-to-date gains to 2.8%. Treue said in his monthly report to i

  5. …And Finally - Japanese men want upgrade on their virtual girlfriends[more]

    From Five years after News of the Weird mentioned it, Japan's Love Plus virtual-girlfriend app is more popular than ever, serving a growing segment of the country's lonely males -- those beyond peak marital years and resigned to artificial "relationships." Love Plus models (Rinko