UCITS cannot invest in unregulated hedge funds, ESMA rules

Mon Nov 26, 2012

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Fund managers will have to redeem hedge funds from their 'trash buckets', which allows UCITS-compliant funds to invest up to 10% of net assets in transferable securities and money market instruments.

Representatives at the European Securities & Market Authority (ESMA) want to ensure uniform application of Article 50(2)(a) of the UCITS Directive,...


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