Erste Readies First UCITS Fund Of Funds

Nov 12 2010 | 2:16am ET

Austria’s Erste Group Bank is jumping on the UCITS III bandwagon with a new fund of hedge funds set for launch next year.

Erste’s ESPA Alternative Diversified Fund will debut in January, HFMWeek reports. It will be the Vienna-based firm’s first UCITS-compliant offering; the firm currently manages some US$650 million in multi-strategy funds of funds.

The new fund will be seeded with €50 million by the firm, although Erste expects it to be managing outside money—primarily from local Austrian investors—when it launches. It will be managed by Mark Cachia and the rest of Erste’s alternative investments group, and will include between 15 and 20 underlying managers.


In Depth

Steinbrugge: Will Hedge Funds Help or Hurt During the Next Market Correction?

Sep 7 2016 | 11:55pm ET

Most investors have become accustomed to quick rebounds when markets correct, but...

Lifestyle

Quattrex Sports AG Debuts Soccer-Focused UCITS Fund

Sep 9 2016 | 9:54pm ET

Innovative alternative investment company Quattrex Sports has unveiled a new UCITS...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...