Mon, Nov 30, 2015
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. Other Voices: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  2. People - Solus Alternative Asset Management adds chief strategist from BTIG[more]

    From Daniel Greenhaus joined hedge fund manager Solus Alternative Asset Management as managing director and chief strategist. He will work closely with Chris Bondy, Solus’ chief economist, managing director and executive vice president, said Chris Pucillo, CEO and chief investmen

  3. Commodities - Stung by oil, distressed-debt traders see worst losses since '08[more]

    From It’s mid-November, but for investors who trade in the debt of distressed companies, the year’s already done -- and they lost. Hedge funds that specialize in the debt are grappling with their worst declines in seven years. Funds managed by Knighthead Capital Management, Candlewood

  4. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the

  5. Opalesque Roundtable: Family offices flock to co-investment[more]

    Bailey McCann, Opalesque New York: Co-investments have been a hot topic for pension funds in recent years, as they try to move away from high fees and improve transparency. But now, family offices are more readily getting into the mix and establishing in-house deal teams, according to the delega