Although still relatively small, the Italian market is starting to take off and is becoming increasingly competitive with players working to distinguish themselves from the crowd
Changes in Italy occur at their own pace. In a country that has been endowed with so much creative genius over the centuries, developments in many new areas of endeavour have often taken on their own unique character. And so it has been with Italian hedge funds. Since its inception at the turn of the millennium, the industry has expanded at an impressive pace but within a regulatory environment that is unlike any other legal framework in Europe. The structure of the industry has evolved with marked differences in key areas such as the hiring of foreign fund advisers, the make-up of hedge fund clientele, distribution networks and product segmentation.
With the introduction of Italian hedge fund regulations in 1999, the way was cleared...