Absolute return UCITS funds do not represent competition to hedge funds but are a complementary offering, according to Fabrice Cuchet from Dexia Asset Management.
Cuchet, chief investment officer of alternatives at Paris-based Dexia, also says the UCITS legislation will not replace hedge funds.
Fabrice Cuchet: Dexia Asset Management
He adds: UCITS are always developing. The fourth version is about come into force and discussions about UCITS V have started. For alternative asset managers the legislation has presented a real opportunity.
But the developments are not aimed at replacing hedge funds because UCITS have more constraints and the