Ireland’s path to Ucits hedge funds was not straightforward. The Irish fund industry was more focused on business from the Cayman Islands and felt Ucits retail funds were not something it particularly wanted or needed to concern itself with.
Then under Ucits III hedge funds began to look at how a regulated wrapper could transform an offshore fund, usually domiciled in the Cayman, into a vehicle capable of being invested into by institutions in Europe who were restricted to regulated funds.
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