Sat, Aug 27, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Opalesque UCITS intelligence

Editorial

Tuesday, November 05, 2013

Why UCITS?

In the last four years so many panels, surveys, white papers covered this critical topic.

However, we continue to see fund managers launching UCITS vehicles to match investors' regulatory requirements. Recently, the English fund manager Finisterre Capital initiated a strong move by setting up an EU regulated fund after one of its insurance clients threatened to pull out its money from its offshore existing fund.

Those cases show that beyond disappointments on the restrictions imposed when managing UCITS vehicle, beyond the disappointment of the performance, beyond the rational offshore/onshore debate, here comes the fact: UCITS are for the moment, the only acceptable vehicle for many institutional investors in Europe.

According to our data partner Alix Capital, the number of funds is stagnating and the assets are growing. As Louis Zanolin explained, the assets continue to flow in big traditional brands with distribution networks and capacity. This phenomenon is not new and is reflecting the institutionalisation of the UCITS market. Small funds with assets under $15m close down.

Another critical fact is how the development of UCITS since 2008 has progressively impacted the business models of hedge funds. P. Schoenfeld Asset Management "PSAM" (see last edition) an event driven firm, has seen nearly doubled its UCITS assets year to date. That implies a different cultural mind set in terms of reporting, compliance, liquidity and risk management as well as the impact of the implementation of AIFMD.

I wish you a happy reading and take this opportunity to thank you for your great comments and support!

Sophie van Straelen

 

Sophie

About your editor: Sophie van Straelen and Asterias Ltd: Sophie van Straelen started her professional career in investment banking spanning derivative markets and hedge funds. Her 12 year experience in investment banking provided a strong base to found Asterias Ltd, the consultancy located in London, specialised in delivering strategic insight in distribution for service providers and hedge fund managers. Listed in 2009 by EFinancial News as one of the top 100 most influential women in finance in Europe, she is a recognized, valuable and independent source of analysis for the media, lobbying groups and investors.



 
This article was published in Opalesque UCITS intelligence.
Opalesque UCITS intelligence
Opalesque UCITS intelligence
Opalesque UCITS intelligence
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. Strategies - The 'Holy Grail' hedge fund strategy to handle a black swan the size of World War I, Hedge funds get more pushback on terms as enthusiasm for strategy wanes[more]

    The 'Holy Grail' hedge fund strategy to handle a black swan the size of World War I From IBTImes.co.uk: To illustrate a strategic gap common to today's portfolio managers, George Sokoloff, PhD, founder and CIO at Carmot Capital, proposes an interesting thought experiment – a breakdown of

  2. Institutional investors - Investors set to increase allocation to private debt, With investment income key, Richmond retirement system faces funding challenges[more]

    Investors set to increase allocation to private debt Investors are set to increase their allocation to private debt, with 60% revealing they believe the private debt market will grow over the next 12 months, according to a new study by Elian, a leading funds services provider. 41%

  3. Investing - Hedge funds snap up banks, unload Apple, Some of hedge funds' favorite stocks are finally starting to beat the market, Einhorn's Greenlight shifts positions, Treasury yield climbs to two-month high as Fischer joins hawks, 9 stocks smart investors put their money in last quarter[more]

    Hedge funds snap up banks, unload Apple From Barrons.com: Prominent hedge funds have a newfound love of big banks, and some have a distaste for shares of Apple, regulatory filings released last week show. The filings suggest that the funds have been pivoting their portfolios in recent mon

  4. Chesapeake energy seeks $1 billion loan to refinance debt[more]

    From Bloomberg.com: Chesapeake Energy Corp. is seeking a $1 billion loan as the company battered by cratering fuel prices and credit downgrades takes a step to address its $9 billion debt load. The natural gas producer hired Goldman Sachs Group Inc., Citigroup Inc. and Mitsubishi UFJ Financial Group

  5. Institutions - Nordic pension funds magnify focus on unlisted and direct investing, building up teams[more]

    From IPE.com: As bond yields remain at low or negative levels, pension funds and other institutional investors in the Nordic region are stepping up efforts to find higher returns by adding more unlisted investments to portfolios and are expanding in-house teams in order to do this, according to new