Articles tagged with Ucits III
08/09/2010
ML Capital, the Malta-based financial management firm, has launched its new Ucits-compliant hedge fund platform, after having lobbied Ireland’s Financial Regulator for a change to sub-fund branding rules, HFMWeek can exclusively reveal.
Domiciled in Ireland, The Montlake Ucits Platform is to launch its first fund on 1 October. Two more funds are to be brought onboard by the end of the year, with a capacity for 10-15 funds in total – expected to be filled in 12-24 months.
“The aim is to have a suite of managers diversified across a range of strategies and
08/09/2010
Gam and credit manager DCI have jointly launched one of the first Ucits III-compliant market neutral credit funds.
The Gam Star Diversified Market Neutral Credit aims to produce absolute returns with low correlation to fixed income markets through investing in a highly diversified long and short portfolio of mispriced, predominately investment grade credit.
San Francisco-based DCI uses leading-edge quantitative systems to determine corporate default probabilities and to value corporate credit instruments. It then constructs risk-matched and diversified long and short portfolios to exploit mispricings.
DCI’s managing partner and CIO Stephen Kealhofer has developed
18/08/2010
London-based fund of hedge funds (FoHF) Key Asset Management, part of Swedish bank SEB, is preparing to launch its first Ucits FoHF.
According to chief investment officer Chris Jones, the move was primarily driven by an increase in client demand. “We have definitely perceived a need, especially in the high-net-worth area,” he told HFMWeek. “Clients want the comfort of a Ucits stamp, as well as the liquidity that can be offered by Ucits.”
He stressed that while this is the first launch of its kind for the firm, the yet-to-be-named fund is “well-supported by SEB”,
18/08/2010
Morgan Stanley has launched its first Ucits III fund on its FundLogic Platform as the firm prepares plans to make further moves into the space over the next few months.
The fund, which will be managed by alternative fund management firm P Schoenfeld Asset Management, will provide investors with exposure to a global event-driven strategy.
HFMWeek first reported on plans for Morgan Stanley’s Ucits offerings to be launched under its FundLogic brand last month, as well as revealing that the bank had begun incorporating outside managers for its Ucits offerings earlier in the year.
09/08/2010
Traditionally-structured hedge funds outperformed Ucits-compliant hedge funds in both July and for the year to date, according the latest market data.
Current figures from the Ucits Alternative Index Global indicated that Ucits-compliant funds were up 0.53% in July, with their year to date performance was negative, at -0.28%.
In comparison, the HFRI Fund Weighted Composite Index, compiled by Hedge Fund Research, showed traditional hedge funds up 1.82% in July, with year to date performance at 1.52%.
The figures indicate that Ucits-compliant hedge funds still have some way to go before they are able
29/07/2010
GWM Institutional, a division of multi-family office GWM Group, has ventured into the hedge fund space with the launch of its first Ucits product.
The group’s 7H Absolute hedge fund is a Luxembourg-registered, Ucits III long/short European equity fund and is targeted to deliver positive absolute returns irrespective of equity market conditions with a time scope roughly between 12-15 months.
To help manage this fund CEO of GWM, Peter Sartogo, has taken on Simone Chelini and Pietropaolo Rinaldi, both co-founders and fund managers of the Unifortune Albatross Fund.
28/07/2010
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.
21/07/2010
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 a true universe of these so called ‘Newcits’ funds now in place, the Ucits compliant funds of hedge funds (FoHFs) picture is also evolving rapidly, as FoHFs businesses look to build diversified portfolios of Ucit managers.
The data shows a sharp increase of both single manager and FoHFs, 19% and 40% respectively, with AuM in the second quarter rising by E13 billion ($17bn) for single
07/07/2010
Natixis, the French banking titan, is poised to debut a new Ucits III platform as it relaunches its former managed accounts platform as a vehicle for Ucits-compliant hedge funds, HFMWeek can exclusively reveal.
The bank has remodelled Sixtina, once the home of over 30 managed accounts, to cater for so-called ‘Newcits’ funds and is due to unveil its first Ucits manager within the next few weeks.
According to internal sources, Natixis expects to raise €350m-€500m (633m) for the new-look Sixtina within its first year of operation. As it builds out its Ucits expertise, the bank
16/06/2010
Permal Group and Strategic Investments Group are launching a $250m Ucits III absolute return multi-manager fund called the Active Trading Fund.
London-based investment boutique Alternative Advisors is also set to launch a new Ucits-regulated fund of hedge funds this week.
The moves come as a growing number of hedge funds look to Ucits as a way of providing investor protection while still offering attractive returns.
According to Hedge Fund Research, there are now 400 Ucits-compliant funds launched by hedge fund managers, with total assets of $35bn.
