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
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...