Friday, 27 May 2016
Last updated 11 hours ago
Aug 19 2010 | 1:34pm ET
Fund of hedge funds shop Key Asset Management is getting on the UCITS III bandwagon.
The London-based firm plans to launch its first UCITS-compliant in October, HFMWeek reports. The fund will offer daily liquidity and have no maximum capacity, at least initially, Chris Jones, the firm’s chief investment officer, said.
“We have definitely perceived a need, especially in the high-net worth area,” he said. “Clients want the comfort of a UCITS stamp, as well as the liquidity that can be offered by UCITS.”
While the unnamed fund is Key’s first, the firm’s parent, Swedish bank SEB, already offers several UCITS-compliant hedge funds, and Key’s effort is “well-supported by SEB,” Jones said.