Mon, Mar 27, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications

French Institutions show more interest in hedge funds - France Roundtable

Sign up here for our free Roundtable Scripts - get this unique intelligence by email as Opalesque publishes them:

For the last five years, hedge fund performance has been below its historical average, and most institutions in France did not increase their allocation. This seems to be changing in 2013 when with the changed dynamics in the financial markets investors’ expectations have moved from capital preservation to competitive performance, and are more willing to embrace higher volatility.

In the context of a global portfolio with somewhat stretched valuations and shorter overall market cycles, investors have now many good reasons to evaluate the merits of alternative strategies. More new ideas, trading and investment strategies have become available for investors. One reason for that is that a lot of people who were running strategies internally at banks are now leaving to either set up or join hedge funds – two firms represented at the Roundtable are such spin-outs.

AIFM and UCITS V: Inspired by French regulations

People often think that the AIFM directive is only targeted at hedge funds, which is far from true, particularly in France. About two thirds of the 600 French asset management companies will eventually be AIFM authorized, and the majority of funds domiciled in France is not UCITS and will fall under the category of AIF. Against this background, it is worth noting that a number of provisions in AIFMD are directly inspired from the French regulation framework. This is one of the reasons why French asset management companies tend to have it easier to adjust to than some of their European competitors. For example, the rules on depository both in AIFMD and tomorrow in UCITS V are very much inspired by French rules, as these have been widely acknowledged as protective and efficient. There are other examples, such as valuation or the prevention of conflicts of interests.

The Opalesque 2013 France Roundtable, sponsored by Lyxor and Eurex, took place on June 6th 2013 in Paris with:

  1. Edouard Viellefond, Managing Director, Autorité des marchés financiers (AMF)
  2. Frederic Lebel, Co-CEO and CIO, OFI MGA
  3. Jean-François Comte, Founding Partner, Lutetia Capital
  4. Xavier Lattaignant, Head of Alternative Multi-Management, SCOR Global Investments
  5. Jad Comair, Founder and CIO, Melanion Capital
  6. Nathanaël Benzaken, Managing Director, Lyxor
  7. Paul Beck, Executive Director, Eurex
The group also discussed:
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. Hedge fund liquidations in 2016 surpass 2009 levels, new launches decline[more]

    Benedicte Gravrand, Opalesque Geneva: Even as the hedge fund industry's total assets exceeded the $3tln milestone last year, hedge fund liquidations increased. So much so that 2016 had the highest number of liquidations since 2008, claims the latest HFR Market Microstructure Report, re

  2. Hedge funds find no joy in macro as returns lag Trump rally[more]

    From Gulfnews.com: In 2017, macro hedge funds were expected to shine. So far? Not so much. It's been a far from impressive first two months for funds that trade around macroeconomic events. Discretionary funds rose just 0.3 per cent through February, according to Hedge Fund Research Inc., while the

  3. Strategies - Billionaire investor Marc Lasry shares how he's playing markets right now, Classic models are failing FX hedge funds desperate for return[more]

    Billionaire investor Marc Lasry shares how he's playing markets right now From CNBC.com: Buy on the prospect of deregulation. Sell on the enactment of deregulation. That's the strategy that billionaire investor Marc Lasry is implementing, according to an interview with CNBC in Las Vegas

  4. Opalesque Exclusive: Aberdeen makes the case for the lower mid-market[more]

    Bailey McCann, Opalesque New York: Aberdeen Asset Management has released a new paper focused on lower mid-market private equity. According to the paper, this segment of the private equity market is gaining popularity with private equity investors that are looking for multiple expansion and less

  5. Hedge funds await outcome of French elections, feel pinch on lower oil prices & weak dollar[more]

    Komfie Manalo, Opalesque Asia: Hedge funds felt the pinch of lower oil prices and weak U.S. dollar as the Lyxor Hedge Fund Index was marginally down as of the week ending 14 March, Lyxor Asset Management said in its Weekly Briefing. The Lyxor He