Denmark To Get First UCITS Hedge Fund

Mar 17 2011 | 12:33pm ET

Is Denmark finally buying a ticket for the UCITS III bandwagon?

The country appears poised to get its first domestically-domiciled UCITS-compliant hedge fund sometime in the second quarter, likely its first, HFMWeek reports. The new fund is one of two planned by Danske Invest; the second will be domiciled in Luxembourg with thousands of other UCITS products.

The Danish-domiciled fund with be a foreign exchange strategy. The Luxembourg fund will be an equity long/short vehicle based on an existing Danske hedge fund and is expected to debut next month.

Danske has not yet begun fundraising for the vehicles, but plans to target Nordic and European high-net worth and institutional investors.

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