Sat, Aug 1, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Focus on cross border funds (UCITS): A powerful tool in the fund promoter's armory

Friday, February 26, 2010
Opalesque Industry Update - According to the 1Q 2010 issue of the Cerulli Edge: Europe Edition, the market for UCITS funds is poised for further growth as alternative and long-only managers seek opportunities to expand their global reach.

Although 2008 was a challenging year for European investment managers—many funds experienced redemptions as investors moved into cash—assets under management in UCITS has steadily recovered to reach more than €2 trillion year-to-date through August 2009. During the same period, net new inflows exceeded €70 billion with Luxembourg-domiciled funds accounting for a significant proportion of sales.

While Continental Europe remains the hub of most European distribution strategies, the popularity of the UCITS brand is such that markets in Asia are becoming key sources of sales revenue for major asset management firms. Yet Cerulli analysts believe that the access to some global emerging markets will only come through setting-up onshore structures.

Traditional long-only funds currently dominate UCITS sales, but Barbara Wall, editor of the Cerulli Edge- Europe edition says, "A sharp increase in the number of alternative UCITS fund products in circulation suggests that hedge funds, including fund of hedge funds, will become an important feature of the cross-border fund landscape."

Other findings in this issue:
Dublin may have the edge in exotic assets, but both the Irish and Luxembourg domiciles will benefit from other intra-Europe relocations, mergers, and rationalizations.
Sales of offshore funds in the United Kingdom have been anemic. While the Treasury has taken steps to improve the lot of offshore funds in the United Kingdom, the new regime is unlikely to offer significant benefits to investors
Switzerland's financial services providers are being forced to come onside in trade for access to significant segments of foreign customers and non-domestic asset pools.

A recovery in Europe's battered property market has piqued the interest of investors, however European data has yet to reflect significant inflows in key fund markets. -KM- Corporate website: Source

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. Opalesque Exclusive: Despite bumpy June/July, CTAs hold on[more]

    Bailey McCann, Opalesque New York: To say that things have been rocky in managed futures recently is putting it mildly. In June, the industry saw its worst month on a performance basis in the past four years. Then yesterday,

  2. Investing - Hedge fund billionaires bet on London as revival gathers pace[more]

    From Bloomberg.com: London’s fund industry is bouncing back, and U.S. billionaires Steven A. Cohen and Ken Griffin are grabbing a piece of the action. Griffin’s Citadel and Millennium Management, a hedge fund run by Israel Englander, have bulked up in London, where asset growth is outpacing the U.S.

  3. Other Voices: Same day reporting and the evolving role of fund administrators[more]

    By: Scott Price, Head of Business Development and Client Management for North America, Maitland Ernst & Young’s latest glob

  4. Cowen Group, Inc. to acquire Conifer Securities[more]

    Cowen Group, Inc. and Conifer Securities, LLC had announced the signing of a definitive agreement under which Cowen will acquire Conifer Securities, the prime services division of Conifer Financial Services LLC. The transaction, the terms of which have not yet been disclosed, was approved by the boa

  5. Cargill’s Black River Asset to shut down four hedge funds[more]

    Komfie Manalo, Opalesque Asia: Cargill Inc.’s $7.4 billion Black River Asset Management said it was closing four hedge funds with a combined $ 1 billion in assets and start returning investors money over the next several months, various media said. The hedge funds represent 15% of Black River’

 

banner