Newcits: Investing in UCITS Compliant Hedge Funds

Newcits: Investing in UCITS Compliant Hedge Funds by Filippo Stefanini, Silvio Vismara, Michele Meoli, Tommaso Derossi

ISBN10: 0470976276
ISBN13: 978-0470976272
Author: Filippo Stefanini, Silvio Vismara, Michele Meoli, Tommaso Derossi
Title: Newcits: Investing in UCITS Compliant Hedge Funds
Publisher: Wiley; 1 edition (February 14, 2011)
Language: English
Size ePub: 1490 kb
Size PDF: 1817 kb
Rating: 4.4/5
Votes: 437
Pages:
Subcategory: Finance

Newcits: Investing in UCITS Compliant Hedge Funds by Filippo Stefanini, Silvio Vismara, Michele Meoli, Tommaso Derossi



Due to their strong regulatory frameworks, UCITS compliant hedge funds have seen a boom in recent years and are considered by many as the only way out for the hedge fund industry after the crisis.

Newcits: Investing in UCITS Compliant Hedge Funds is a one-stop resource for investors who want to get the best out of their UCITS investments. There is a large and increasing range of UCITS compliant funds out there, but despite their tighter regulation and frameworks, investors still need to understand the risks they are undertaking, the structures of the funds and their differences and similarities to mutual funds and hedge funds.

The book begins with an assessment of the financial crisis from the perspective of hedge funds and funds of hedge funds. Then it introduces the UCITS framework and shows how these strategies present a valuable and attractive alternative to offshore hedge funds and funds of hedge funds. The regulatory framework is described in depth, as are the different business models used by asset managers. Finally it looks at current hedge fund strategies such as long/short equity or global macro, and at how these can be integrated into the framework.

The book also describes in detail the Newcits industry, discussing the performances, the fee structure, the liquidity and the key theme of "replicability", studying the tracking error volatility of the Newcits funds in comparison with their offshore versions. A discussion of the effectiveness of the regulation and its potential developments concludes the book.


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