"Are Hedge-Fund UCITS the Cure-All?" - Samuel SENDER (Edhec Risk Institute) Thesis

As part of the CACEIS research chair on non-financial risks in investment funds, EDHEC surveyed UCITS and alternative asset managers, their service providers, external observers, and investors for their views of structuring hedge fund strategies as UCITS. The 437 respondents report assets under management (AUM) of more than €13 trillion. Investment fund managers account for roughly €7 trillion of these assets. In general, the survey suggests that institutional investors bound by quantitative restrictions will ask fund managers and distributors to repackage hedge fund strategies as UCITS. For their part, managers of alternative funds are concerned by the uncertainties surrounding the directive on alternative investment fund managers (AIFMs) and may consider packaging their strategies as UCITS. Most respondents, however, fear that structuring hedge fund strategies as UCITS will distort strategies and diminish returns.

Download the full document "Are Hedge-Fund UCITS the Cure-All?" (pdf 84 pages)

• Samuel SENDER will present his work during EIFR's working breakfast - MAY, 12 2010 8:30 am at Palais BRONGNIART, Paris. For registration to this event : contact@eifr.eu or +33 1 49 27 13 78