Gestion alternative UCITS III

An article in the Financial Times this week reported that some industry figures believe an alternative Ucits III-compliant vehicle could potentially blow-up within the next two years as managers push the regulation boundaries

A recent survey conducted by Malta-based financial services group, ML Capital, has found, perhaps unsurprisingly, that Global Macro is the most popular newcits strategy amongst investors.

"Les Ucits, qui imposent notamment des règles de transparence, de liquidité et d'éligibilité des actifs, comportent néanmoins des risques et ne sont pas nécessairement plus sûrs que d'autres structures quand ils sont utilisés pour une gestion alternative", juge Frédérique Barnier, secrétaire général et co-fondatrice de Ciam, société de gestion française spécialisée dans le merger arbitrage pur, alors que la réglementation Ucits IV entre en vigueur le 1er juillet 2011.

Natixis Alternative Investments France has launched a new fund on its dedicated managed fund platform - the SIXTINA Harbert Event Opportunities Fund.

Thames River has confirmed that it plans to launch a global emerging markets absolute return fund on 1 June. The equity l/s UCITS is to be managed by Kristof Bulkai (pictured) and Hugo Roberts. A top-down macro approach will be used in tandem with value-driven company analysis to identify stock positions.

Global macro was the most popular strategy among investors in Ucits-compliant hedge funds this quarter, according to a survey released by ML Capital.

HedgeCo News: The Star Dynamic Global Bond was launched on the 11th April 2011. The new fixed income – developed markets UCITS hedge fund aims to produce consistent total returns and outperform an index of developed global bond markets over a market cycle.

The UCITS hedge fund has daily redemptions and trades in USD, GBP, EUR, CHF, JPY and SEK. Minimum subscriptions start at USD 20,000,000 or currency equivalent (institutional class) and USD 10,000 or currency equivalent (ordinary class). Manager fees are 0.65% and 0.90, respectively.

The co-managers, Tim Haywood and Daniel Sheard each have over 20 years’ experience. They look to capture both alpha and beta using credit, FX, interest rate and inflation hedges to diversify risk. Their dedicated expertise in non-core sectors and their unconstrained ‘go-anywhere’ approach means the fund is able to access the most interesting opportunities globally, through tactical and dynamic sector rotation.

Fund platforms specialising in Ucits and managed accounts have enjoyed a strong start to the year, with big hitters in both sectors reporting significant inflows.