Does loyalty lie with the lawyer or the law firm?
Big changes were afoot in the London hedge fund legal scene last week, after New York-based Akim Gump swooped on Simmons & Simmons
28/07/2010
Credit Suisse launches Ucits-compliant FoHF
Global banking business Credit Suisse is launching a new Ucits-compliant fund of hedge funds (FoHF), as recent data shows a fast-emerging universe of these baskets of EU-compliant products.
The Prima Multi-Strategy fund, which will be domiciled in Luxembourg, will invest across an array of alternative investment strategies, including equities, event driven and rates. It is expected to launch with assets in excess of €100m ($130m).
Ucits III-compliant hedge funds have continued to thrive throughout the second quarter of 2010, as the sector edges towards 500 funds, according to data provider the Ucits Alternative Index.
With this so-called ‘Newcits’ sector now well established, the Ucits-compliant FoHF picture is also evolving rapidly, as FoHFs look to build diversified portfolios of Ucits managers.
The data shows a sharp increase in both single manager and FoHF Ucits launches, 19% and 40% respectively, with AuM in the second quarter rising by €13bn ($17bn) for single manager funds and €800m ($1bn) for FoHFs – an upswing of 19% and 50% respectively.
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Editor's view: 8 February 2012
Speculative moves, a perceived landgrab and a potential bidding war in the hedge fund sector have all opened up in recent weeks
Comment: Julian Korek
"Advisers need to be analysing key considerations and determining where they fall in the spectrum of SEC registration; no easy task given the scope of the legislation"
Investor demand for CTAs is on the rise, says Agecroft Partners
Agecroft Partners is seeing widespread demand from institutional investors for Commodity Trading Advisors (CTAs), which is a dramatic change from the historical reluctance of many institutional investors and their consultants to allocate to this strategy.
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European Hedge Fund Services Awards 2012
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