Are Hedge-Fund UCITS the Cure-All?

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

References

•  European Union. 2004a. Corrigendum to Commission recommendation 2004/383/EC of 27 April 2004 on the use of financial derivative instruments for undertakings for collective investment in transferable securities (UCITS). April. •  European Union. 2004b. Investment services MIFID directive. Directive 2004/39/EC of the European parliament and of the council. April. •  Le Sourd, V. 2009. Hedge fund performance in 2008. EDHEC publication. February. •  Loderer, C., and L. Roth. 2003. The pricing discount for limited liquidity: Evidence from SWX Swiss Exchange and the Nasdaq. Freiburg University conference. •  Pirrong, C. 2009. The economics of clearing in derivatives markets: Netting, asymmetric information, and the sharing of default risks through a central counterparty. Working paper. January. •  PricewaterhouseCoopers. 2008. The retailisation of non-harmonised investment funds in the European Union. •  Zangari, P. 1996. A VaR methodology for portfolios that include options. RiskMetrics Monitor (first quarter): 4-12.

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