Weekly UCITS News (Friday)

The Central Bank of Ireland is to initiate a consultation on the Irish regulatory regime for non-Ucits funds.  »

Singapore-based asset manager, Milltrust International Group, founded by Simon Hopkins in January 2011, has launched an innovative range of emerging market UCITS funds, ad »

San Diego-based Brandes Investment Partners has launched a Dublin-domiciled emerging market equity fund reported Citywire Global this week. »

JP Morgan Worldwide Securities Services (WSS) has launched its tax calculation reporting service for UCITS funds distributed into the UK the firm announced this week. »

AsianInvestor this week reported that Joe Chan’s Galaxy Asset Management, one of Hong Kong’s longest running hedge funds, had decided to shutter its China Absolute Return Ucits hedge fund just 19 months after inception. The fund, which at the time was the first Ucits-compliant, China-focused hedge fund to be launched by an Asian fund manager, launched with USD30million in November 2010. It has now earned another, albeit unwelcome, first by becoming the first known closure of a China alternative Ucits fund by an Asian manager. »

Société Générale Securities Services (SGSS) announced at this week’s Fund Forum International the launch of a turnkey solution to enable asset management companies and independent managers to create, manage and promote Ucits funds. SSGS said that the solution was aimed at global managers who don’t want to create a Ucits-registered asset management firm, instead providing them with a Luxembourg legal structure that fulfills EU regulations. The turnkey solution allows managers to create and distribute Ucits funds across all 27 members of the EU as well as offer distribution advantages in non-EU jurisdictions. »

Key Investor Information becomes a reality in twenty days – and this is just the start. Martin Bock (pictured), Senior Manager, Funds Segment Strategy at RBC Dexia, comments… »

EFAMA has welcomed the publication by the European Securities and Markets Authority (ESMA) of its Consultation Paper setting out future guidelines on UCITS Exchange-Traded Funds (UCITS ETFs) and other UCITS issues. »

A greater focus from regulators and investors has led to an increased number of hedge fund and private equity managers actively considering strategic moves to more favourable domiciles, according to a new report from Clear Path Analysis. Emerging regions are particularly appealing to investors and as such managers are now looking at the business potential of setting up a presence overseas. »

Fitch Ratings has assigned the Henderson Horizon Global Property Equities Fund, a fund managed by Henderson Global Investors, a 'Strong' Fund Quality Rating. »