Northern Trust Unveils UCITS Portfolio Monitoring Solution

Jun 1 2010 | 2:06pm ET

Northern Trust announced today that is has added a new compliance module to its Hedge Fund Monitor aimed at supporting the demands of UCITS funds-of-hedge funds.

The firm's Hedge Fund Monitor tool provides automated processes to efficiently monitor hedge fund performance and liquidity, and with the latest module the firm hopes to attract more UCITS funds, which are rapidly springing up across Europe.
"Our latest Hedge Fund Monitor enhancement helps fund managers running UCITS funds-of-hedge funds to monitor their compliance with restrictions on liquidity, concentration risk and exposure to underlying non-UCITS funds," said Ian Headon, senior product manager for alternative asset servicing at Northern Trust.

"In addition to real time, customized investment compliance measurement and performance and liquidity reporting, we have added functions specific to restrictions and guidelines relating to UCITS funds. This assists managers in assessing a fund's self-imposed strategy and geographical restrictions along with compliance with UCITS guidelines," he added.

UCITS – Undertakings for Collective Investment in Transferable Securities – are a set of European Union directives that allow collective investment schemes to operate throughout the European Union on the basis of a single authorization from one member state. UCITS funds must operate within a strict regulatory framework that imposes standards on liquidity, concentration risk, transparency and other attributes.

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