Denmark is the latest European country to join the burgeoning alternative UCITS space with Danske Invest preparing to launch what are believed to be the countr
Denmark is the latest European country to join the burgeoning alternative UCITS space with Danske Invest preparing to launch what are believed to be the country’s first-ever UCITS III-compliant hedge funds, reported HFMWeek this week. Due to launch in Q2, one will be an equity l/s fund, the other an FX fund. Once fund raising commences it is believed that mainly Nordic and European HNW and institutional investors will be targeted. Interestingly, whilst the equity l/s fund will be Lux-domiciled, the FX fund will be domiciled in Denmark. The reasons behind doing this are not known at this stage. Like Germany, the appetite for hedge funds in Denmark has not really gained traction over the years. It’ll be interesting to see whether these new fund launches by Danske Invest, and the inherent liquidity and transparency they’ll bring under UCITS III rules, will change that. As Atilla Olesen (pictured), head of securities finance (UK) at SEB told HFMWeek: “You can count the number of Danish real hedge funds on two hands – there’s probably no more than ten.”
