Are Hedge-Fund UCITS the Cure-All?

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

Table of Contents

Abstract..................................................................................................................... 5

Executive Summary ................................................................................................ 7

1. Presentation of the EDHEC Risk Survey.......................................................13

2. Context: A Muddled Regulatory Agenda Encourages Structuring HF Strategies As UCITS...................................................................17

3. Structuring HF Strategies As UCITS..............................................................31

4. Depositary Problems for Hedge-Fund UCITS...............................................55

Appendices..............................................................................................................63

References............................................................................................................... 71

About EDHEC Risk Institute.................................................................................75

EDHEC Risk Institute Publications and Position Papers (2007-2010)..........79

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An EDHEC Risk Institute Publication