The Ucits umbrella

The adoption of Ucits III by absolute return managers has coincided with a period when confidence in offshore investment funds has never been lower, writes Merchant Capital's George Cadbury.

One of the asset management industry’s major focal points this year has been the rapid increase in hedge fund managers implementing the Ucits III fund structure for their own offshore investment vehicles. The adoption of Ucits by absolute return managers has coincided with a period when confidence, in what are regarded by some as opaque investment funds, has never been lower. A recent survey carried out by Kepler Partners, an independent fund marketing and research adviser, estimates approximately $30bn is invested in hedge fund strategies that sit within a Ucits III structure. Official ...