Some regulators are skeptical about the merits of UCITS hedge
funds, according to a report published by
PricewaterhouseCoopers, From black box to open book: Hedge
fund trust and transparency.
Andrew Crain, manager of London-based Financial Services
Authority's alternative investments and asset management team,
explains: "As we see the market for UCITS-type products with
hedge fund attributes proliferate, there may be an increased
risk of mis-selling or misunderstanding.
"Structural differences between UCITS products and the
underlying hedge funds they are...