Key Asset Management, a $1.43 billion funds of funds in London, is to launch a UCITS III hedge fund compliant product. Key, which is owned by Scandinavian-based SEB, has submitted its prospectus to the Luxembourg regulator, the Commission de Surveillance du Secteur Financier for approval.
Chris Rule, investment director for Key, said: "We have been reviewing the hedge fund UCITS space for some time and already advise on a portfolio of UCITS III funds. Our core business is the management of multi-strategy funds of funds and we have identified client demand for a more widely accessible product."
"Subject to regulatory