Ucit hedge funds proceed with caution


“Setting up a Ucits fund is a relatively simple task,” says one derivatives dealer. “All you need is a couple of lawyers and a few custodian contacts and off you go. It’s what happens afterwards that counts – successfully marketing your product.” Ucits (undertakings for the collective investment of transferable securities) funds have been marketed with great success for many years by large asset managers to both European and Asian audiences (see footnote 1), but a recent Ucits restructuring by a