Can hedge fund-like returns be replicated in a regulated environment ?

Markov, Iliya (Haute école de gestion de Genève, HES-SO // Haute Ecole Spécialisée de Suisse Occidentale) ; Tuchschmid, Nils (Haute école de gestion de Genève, HES-SO // Haute Ecole Spécialisée de Suisse Occidentale)

Ucits were a series of directives issued by the European Commission whose aim was the facilitation of cross-border marketing and selling of collective investment schemes. This regulatory framework has recently gained popularity as an investment vehicle for hedge fund strategies. This trend can be explained in part by customers shying away from direct investments into hedge funds and their lack of transparency. For some, the importance of Ucits is inevitable and the competition will grow over time. For others, the constraints imposed by the Ucits regulatory environment will prevent these investment vehicles from seriously competing with hedge funds. In this chapter, we analyze the advantages and disadvantages of the Ucits framework. In particular, we study the different solutions that are proposed and analyze how adequate they are to offer hedge fund-like returns. For each strategy or hedge fund style, we then emphasize the strengths and weaknesses of the Alternative Ucits solution.


Faculty:
Economie et Services
School:
HEG - Genève
Institute:
CRAG - Centre de Recherche Appliquée en Gestion
Subject(s):
Economie/gestion
Publisher:
Basingstoke, Palgrave Macmillan
Date:
Basingstoke
Palgrave Macmillan
2011
Pagination:
pp. 146-158
Published in
Hedge fund replication
ISBN:
978-0-23-033681-0
Appears in Collection:

Note: The status of this file is: restricted


 Record created 2015-11-27, last modified 2019-04-11

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)