Exane explains its €4 billion switch to UCITS
Tue Sep 28, 2010
Consistency for investors is key for the Paris-based manager
Many hedge fund managers have launched UCITS funds because of investor demand for transparency, liquidity and risk management.
However, the credit crunch and the global financial crisis were not the reasons why Paris-based Exane Asset Management, which fared well during the crisis, wrapped its entire stable of long/short sector funds into the UCITS structure.
Pierre Sequier, managing director for Exane, explained that all of its funds are in the wrapper because of consistency and investors can have access funds under the same format.
The firm has six long/short single manager UCITS III funds with €4 billion assets under management and closed its Luxembourg-domiciled Ceres Fund to new external subscriptions earlier this year in June. It also has a €1.4 billion internal fund of funds.
The Micromegas and Ceres funds...
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