Mon, Mar 30, 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. Other Voices: Does the hedge fund industry benefit society?[more]

    This article was authored by Don Steinbrugge, Chairman of Agecroft Partners, a US-based global consulting and third party marketing firm for hedge funds. It is no secret that the hedge fund industry is viewed negatively by a la

  2. Private credit comes into focus for investors[more]

    Bailey McCann, Opalesque New York: As investors look for a way out of the low yield/no yield environment, private credit is becoming an increasingly attractive asset class, according to a white paper from Bayshore Capital Advisors. Private credit has grown steadily since the financial crisis as

  3. Other Voices: The role of diversification in CTA portfolios[more]

    2014 brought a resurgence of managed futures strategies, or CTAs, which performed very well as a whole, outperforming all other hedge fund strategies. However, a closer look reveals that there was a wide range of performance, or return dispersion, across managers. The bottom line? Not all CTAs

  4. Neuberger Berman unit buys 20% stake in activist hedge fund Jana Partners for $2bn[more]

    Komfie Manalo, Opalesque Asia: Neuberger Berman’s unit Dyal Capital Partners bought a 20% stake in activist hedge fund firm Jana Partners worth $2bn, WSJ.com reports. The deal comes as activi

  5. Hedge fund launches fall again, $1bn funds found to outperform even smaller hedge funds[more]

    Komfie Manalo, Opalesque Asia: The number of new hedge fund launches fell again in 2014, the third consecutive year of decline, while fund liquidations saw their first drop since 2010, according to the latest HFR Market Microstructure Industry Report released by industry data provider HFR. Acc

 

banner