Hedge Funds News London: Europe’s very own travelling fund structure is further explored here with Michael Hugues, head of business development and product management at Argos Investment Managers. See yesterday’s part 1 here.
Argos Investment Managers, a specialist fund management group based in Geneva, currently manages €180 million (US$ 285.6m) through five separate investment strategies. Argos’ activities fall into three categories: UCITS III alternative equity funds, physical asset funds and client-tailored hedge fund portfolio.
You cannot physically short in UCITS III
One thing that hedge funds can do and the UCITS III structure does not allow you to do is shorting individual stocks. “So for that reason, a large number of existing hedge funds don’t want to take on the expense and administrative difficulties involved in obtaining UCITS III status,” Mr. Hugues said. “Generally speaking, regulations create a barrier between the hedge fund world and the UCITS III market.”
What you can do
“For the big players in the UCITS III world which are the household names, when UCITS III came along, they converted their funds to UCITS III but then did not do very much with them. They didn’t really take on board at that point the full implications of what UCITS III actually allowed them to do… which is pretty much anything but shorting individual stocks.”
Source:
the European travelling funds - part 2 – Instruments | Argos Investment managers are launching another UCITS III alternative
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