Regulated Fund Structure Increasingly Popular in Europe

by Amy Bensted

  • 09 Aug 2010
  • HF

In March 2010, Preqin released the findings of its survey of funds of funds managers interest in UCITS funds. The findings revealed that 28% of funds of funds intended to launch UCITS version of their vehicles in the next 6-12 months.

Since March there have been several notable launches of UCITS funds of funds, with many more managers earmarking plans to add such structures to their offerings in the final quarter of 2010 and into 2011. Fund managers which have launched UCITS style funds in the past months include the Swiss based Gottex Fund Management, Credit Suisse with their new launch  “CS Prima Multi-Strategy Fund”, UK based Alternative Advisors and Harcourt Investment Consulting with a funds of funds set up to invest solely in UCITS vehicles in the macro and managed futures space.

Fund managers cited investor demands for liquidity, pre-empting regulation within the European markets and tapping into the European UCITS passporting system as reasons for adopting this structure within their companies.

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