Sun, Dec 17, 2017
A A A
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

bc

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. Mediobanca acquires majority stakes in Swiss hedge fund[more]

    Komfie Manalo, Opalesque Asia: Listed diversified banking group Mediobanca SpA said it has acquired a majority stake in Geneva-based hedge fund firm RAM Active Investments SA (RAM AI), an active and alternative asset manager offering a range of act

  2. Northleaf Capital Partners closes debut private credit fund on $670M[more]

    Bailey McCann, Opalesque New York: Northleaf Capital Partners has closed its debut private credit fund - Northleaf Private Credit I - on $670 million. The vehicle will invest in private credit transactions in Europe and North America, with a primary focus on lending to private equity-backed compa

  3. ...And Finally - The ongoing gun saga in the U.S.[more]

    From Newsoftheweird.com: As elder members of the First United Methodist Church in Tellico Plains, Tennessee, gathered on Nov. 16 to discuss the recent church shooting in Sutherland Springs, Texas, one of those present asked if anyone had brought a gun to church. One man spoke up and said he c

  4. Opalesque Exclusive: Credit Suisse Asset Management's NEXT Investors leads $6M Series A round for LUX Technology and Services[more]

    Bailey McCann, Opalesque New York: Credit Suisse Asset Management's NEXT Investors has led a $6 million Series A funding round for LUX Technology and Services, a business and technology solutions provider for the alternative assets industry. The investment will be used to fuel growth of Trans

  5. eVestment: hedge funds extend winning streak[more]

    Bailey McCann, Opalesque New York: Hedge funds marked their 13th consecutive month of positive returns in November with +0.47% average returns for the month, according to the latest Hedge Fund Performance Report from eVestment. Activists, long/short and quant equity strategies are producing