An alternative view of 2012: the top 10 Alt Ucits stories
by Chris Sloley on Jan 02, 2013 at 10:10
Fund launches, hirings, firings and rampant pessimism, Citywire Global counts down this year’s most read stories from the world of Alt Ucits.
The first of two fund manager changes to enter the countdown is Dalton Strategic Partnership adding Luca Vaiani to its London office back in September.
In a bid to boost institutional investor interest in the Alt Ucits market, Geneva-based the Axiom Fund announced it was scrapping management fees. This move, which was reported in April, said it was done in a bid to compete more strongly with hedge funds.
A story which has come back to the fore in recent weeks following the signing of the deal to sell the firm to Hong-Kong based private equity firm GCS Capital. At the core of this interest, according to sources speaking to Citywire Global in July, was its strong Alt Ucits division.
Fund manager moves are always a popular topic on Citywire Global. Taking the crown for the most read Alt Ucits switch this year was the news Gianluca Orderda had opted to leave Pictet Asset Management in June. This saw Carlos Ontaneda promoted to co-lead on the Pictet Absolute Return Global Diversified fund.
The announcement in May of Edmond de Rothschild teaming with alternatives specialist HDF Finance garnered interest among readers. The deal was intended to fuse EdR’s traditional approach with HDF Finance’s multi-management activity.
Geneva-based asset manager UBP swooped for alternative investment manager Nexar Capital Group back in March. This marked the firm’s second major acquisition in six months and helped bolster its alternative investment capabilities.
Fund launches always attract interest and the most viewed Alt Ucits launch this year was achieved by Lugano-based SwissWealth Management. In April, the company announced its first Alt Ucits fund, the CB-Accent Alternative Alpha Evolution strategy.
The most read Citywire Alt Ucits analysis piece for the year was penned back in March and looked at which manager in each of the 13 Alt Ucits sector had posted the strongest 12 month performance.
Going back to the beginning of 2012 at Citywire’s Chantilly event, market analysis presented by Citywire’s head of investment research, Jonathan Miller, was the second most viewed Alt Ucits article of the year. In a comprehensive overview, Miller discusses the size and trends of the market in 2011.
Leading the pack is a somewhat bearish take on the sector. Selectors polled at the Citywire’s Luxembourg retreat in April voted strongly that Alt Ucits brought with them many risks.
In total, 44% of respondents agreed that Alt Ucits funds were a ‘disaster waiting to happen’, while 24% viewed them as a good replacement to hedge funds.