Critically, the new products coming online are continuously
adding to the diversity of strategies available to investors
within the UCITS wrapper. Nevertheless, there is some debate as
to whether the launches are helping to bring new investors into
the world of absolute return products, or are simply
cannibalising their existing investor bases by offering them
similar products with a different liquidity profile.
Managers certainly appear to have recognised that danger,
and are both choosing and marketing their product lines
"We're not planning to market ourselves very heavily to
funds of funds, which in many cases probably wouldn't be too
interested in our products anyway, given that we're not
offering pure replicas of the more common hedge fund
strategies, such as long/short equity market neutral," says
Andrea Brignone, partner and co-CEO of BCM & Partners.
"Funds of funds already have these products in their
allocations and they would of course...