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From Precy Dumlao, Opalesque Asia:

The latest UCITS fund of hedge funds survey conducted by structured asset management boutique KDK Asset Management has confirmed that the launch of UCITS compliant multi-manager funds is a trend in full swing. The survey of 47 hedge funds from Europe and the U.S. with an aggregate AuM of more than $300bn was performed in June and July and 80% of the respondents disclosed they have either launched or are considering launching UCITS funds in the next few months.

Addorcing to KDK's research there are currently 980 UCITS funds across the globe, managing nearly $100bn in assets. In the first five months of 2010, 125 funds were launched attracting total net inflows of $12bn. The survey cited figures from Eurekahedge which showed that UCITS hedge funds now account for 7% of the total hedge fund universe of $1.5tln but have shown enormous growth in 2010, attracting 20% of the net inflows into the industry YTD.

"The market for UCITS hedge funds is growing rapidly in terms of number of funds and in terms of assets under management. As a result, funds of hedge funds are also entering massively in this space with more than 50 multimanager UCITS launched to date," the survey said.

But there are managers who voice worry about these structures. The popularity of UCITS could be "the next scandal waiting to happen," worried some participants in the ......................

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