The next generation of funds of funds are on
the drawing boards of many firms, particularly in Italy, where
Kairos Partners has been running its UCITS III fund of funds
since May, making it what is thought to be the first
UCITS-compliant funds of funds manager in Europe.
Eurizon and HedgeInvest are both expected to follow suit.
One of the reasons Italy is first on the train with these funds
is that the stringent local regulations for hedge funds and
funds of funds are not too far from the...