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From Benedicte Gravrand, Opalesque London:
Among the drivers for further growth in South Africa (SA), new regulations on the product level – expected soon – could be a catalyst. SA hedge fund managers are themselves regulated, but not their funds - which can limit the industry due to other associated regulations (see related Opalesque Exclusive here).
During the recent Opalesque Roundtable in Cape Town, South Africa (here), Malungelo Zilimbola, founder Mazi Capital, a local fund management company, also put forward that UCITS 3 funds could become a more popular structure in the SA hedge fund industry, and that it would facilitate local pension funds’ access to hedge funds: “the growth of hedge funds will definitely come from the local pension fund industry accessing hedge funds,” he added.
This trend is not just observed in SA; Investment Week reported yesterday that continued hedge fund convergence into the retail space would dominate 2010’s product launches, as a number of hedge fund groups, globally, have launched or are about to launch Ucits III vehicles, which are open to retail investors.
The large majority of SA hedge funds would probably be great cand...................... To view our full article Click here
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