Fri, Jun 23, 2017
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. Comment: For emerging market debt, a sustainable recovery[more]

    Matthias Knab, Opalesque: Standish Mellon Asset Management Company writes on Harvest Exchange: After several difficult years, the outlook for emerging market debt (EMD) denomin

  2. J.P. Morgan Global Alternatives raises distressed shipping fund[more]

    From Institutionalinvestor.com: J.P. Morgan Global Alternatives has closed a $480 million fund to invest in distressed shipping assets, attracting capital from pensions, endowments and insurance companies. The firm, which has been investing in maritime for more than a decade, initially targeted $400

  3. FinTech - Rise of robots: Inside the world's fastest growing hedge funds[more]

    From Bloomberg.com: Believe the hype. Quants have never been more popular. After doubling over the past decade, assets run by so-called systematic funds have hit a record $500 billion this year, according to estimates from Barclays Plc. In some ways, their meteoric rise is due to the same technolog

  4. Legal - Bond market concerns could scuttle Paulson's Fannie-Freddie plan[more]

    From Bloomberg.com: A hedge fund proposal for freeing Fannie Mae and Freddie Mac from U.S. control is poised to face stiff opposition from investors who say it risks wrecking the mortgage-bond market. The Moelis & Co. blueprint, which firms including Paulson & Co. and Blackstone Group LP sponsored,

  5. Other Voices: Are your pricing policies and procedures for less liquid instruments adequate?[more]

    Komfie Manalo, Opalesque Asia: The unrelated position mismarking incidents that quickly precipitated the closures of both Visium Asset Management and Marinus Capital have been recent focal points for market participants, but regulatory scrutiny of valuation choices for less liquid instruments is