Chicago-based AlphaMetrix, a hedge fund specialist adviser connecting investors with alpha-driven fund managers, has conducted a survey in which it reveals tha
Chicago-based AlphaMetrix, a hedge fund specialist adviser connecting investors with alpha-driven fund managers, has conducted a survey in which it reveals that over 25 per cent of US-based hedge fund managers plan to roll out UCITS III-compliant funds in 2011. In addition, it found that 18 per cent of investors who participated in the survey were planning to invest in UCITS vehicles this year. The survey was offered to 650+ attendees at the firm’s recent AlphaMetrix 2011 Summit; a two and a half day networking event held in Miami towards the end of last month. Nearly three quarters of the participants believed that US/EU regulations would have either no impact or a negative impact on the hedge fund industry. The results would seem to suggest that the impending AIFM Directive is causing US managers to seriously consider their options. Certainly from an investor’s perspective the transparency and liquidity of UCITS funds are attractive, but if the figures quoted (27 per cent) are even partly made manifest on a nation-wide scale, a veritable deluge of US “newcits” could be seen in 2011 – the primary driver being a convenient way of by-passing the regulation-heavy AIFM Directive. AlphaMetrix’s chief executive Aleks Kins (pictured) was quoted as saying: “There is no doubt that UCITS structures are gaining increased attention from US hedge funds. That said, our AlphaMetrix 2011 Summit survey shows that the jury is still out, and that many US-based managers are taking a wait and see attitude.”
