Are Hedge-Fund UCITS the Cure-All?

Are Hedge-Fund UCITS the Cure-All? — March 2010

2. Context: A Muddled Regulatory Agenda Encourages Structuring HF Strategies As UCITS

Figure 18a: Only a handful of hedge-fund-like UCITS up to summer 2009 Number of hedge fund-like UCITS* * The sum of UCITS hedge funds = UCITS absolute return according to Lipper category Source: Lipper LIM, PwC Analysis

# funds

599

600

557

35

41

38 30

500

55

450

50

38 29 25

80

400

72

350

47 28 16 22

58

135

300

134

255

39 19 13 11

128

200

126

253

233

96

100

172

117

77

0

2005

2006

2007

2008

2009 (at end August 2009)

Luxembourg Spain

France Other

Ireland UK

Figure 18b: Only a handful of hedge fund-like UCITS as of summer 2009

# funds

45,000

700

599

600

557

36,322

36,234

35,210

500

33,151

450

30,000

30,060

400

350

300

255

15,000

200

100

0

2005

2006

2007

2008

2009 (at end August 2009)

# HF-like UCITS

# UCITS Funds

28

An EDHEC Risk Institute Publication