Money managers under the microscope
The use of UCITS
Hedge funds are continuing to react to potentially seismic shifts in regulation.
A number of firms, notably Man Group and Cheyne, are debuting onshore funds that will use the ucits structure — not only widening the potential pool of investors but also sidestepping the EU’s new draft directive on non-ucits funds and the surrounding uncertainty as the draft is debated.
Today Veritas said it is launching a long/short China ucits fund for top fund manager Ezra Sun, targeting an annual return of 15-20 percent.
In its own words, regulation and investors’ access to their cash are the deciding factors when it comes to fund structure.
“We are launching a ucits fund within an environment where greater regulation and liquidity are the strongest drivers.
“This also gives us the opportunity to make the fund accessible to a wider investor base.”
In five years’ time how much of the ‘hedge fund’ industry will be ucits funds?