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From Precy Dumlao, Opalesque Asia:
Undertakings For The Collective Investment of Transferable Securities, more commonly known as UCITS, are being marketed as the savior of the hedge funds industry. The vehicles, which have exploded in popularity over the past year, may be the "next scandal waiting to explode". If that were to occur, managers at the recent June 2010 Opalesque U.K. Roundtable expressed their worry that investors would be unforgiving to the industry.
"This idea that UCITS are going to save the hedge fund investor from liquidity problems is -
and I hope I'm wrong on this,... is the next scandal waiting to explode, and I don't know if the industry will be forgiven for that that one," remarked Olivier Lebleu, a Partner at Montier Partners a London-based multi-family office with $550m in AuM.
UCITS are public limited companies that coordinate the distribution and management of unit trusts amongst countries within the European Union. These funds can be marketed within all countries that are a part of the European Union, provided that the fund and fund managers are registered within the domestic country.
Joe Taussig, Founder of Taussig Capital, agreed and said that UCITS would not be th...................... To view our full article Click here
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