BlackRock’s Clarvit Blasts UCITS Structure

Mar 4 2010 | 6:41am ET

UCITS III-compliant hedge funds may be the fastest-growing niche of the global industry, but one major hedge fund player says the regulation-friendly structure is no silver bullet.

Chuck Clarvit, who heads BlackRock Alternative Advisors, told RBS’s Alternatively that the UCITS liquidity requirements are too strict to allow the best long/short strategies.

“Often, the very strategies we fund most appealing may be excluded from the UCITS-compliant format,” he said. “Not all strategies are conveniently translatable into a UCITS-compliant structure.”

Clarvit, whose unit manages $23 billion in funds of hedge funds, says the limitations of the UCITS structure create an opportunity for listed permanent capital funds of funds. UCITS-compliant funds are required to offer at least bi-monthly liquidity.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...