Union Bancaire Privée (UBP) is reportedly considering releasing an Ucits version of one of its existing hedge fund to bolster its presence in the UK retail market.
UBP head of long-only UK sales, Jean-Luc Eyssautier, was quoted by fundweb.co.uk as saying that the firm is open to more Ucits launches after recently launching a European equities strategy.
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"We are thinking about having Ucits versions. Today, for the retail market we need Ucits," Eyssautier told the publication.
"We have a hedge fund called the Discretionary Global Macro fund, which is going to soft close at £1bn. We were able to offer this to the institutional market but now we are opening the Ucits version in June."
According to the company, the Ucits mirror of hedge fund will be a Luxembourg-domiciled version, led by Ashwin Vasan from Trend Capital Management.
Additionally, the company is also thinking to roll out UBAM Europe Equit Flex fund last week, which invests in European equities and is not based on an existing offering.
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By GlobalDataEyssautier further added, "The Flex fund was launched last week and we have been very discrete on it as it is a new strategy but it is very original."
"We are using the capability of a European equity portfolio management team and a volatility overlay team based in Paris. The objective is to capture the rise of equity markets but protect on the downside. I think this will be attractive as bond yields will be low."
