CESR gives seal of approval to hedge funds indexes
The Committee of European Securities Regulators this month confirmed the eligibility of hedge funds indexes for Ucits III products. Though indexes must fulfil extra criteria set out by the regulator, market participants are confident that existing hedge fund indexes will qualify under the new guidelines. Amanda Lee reports
The Committee of European Securities Regulators (CESR) has confirmed that hedge funds indexes are permissible underlyings for the purposes of undertakings for collective investments in transferable securities (Ucits III), following consultations with market participants in March. The confirmation has been a long time coming and has generally been welcomed, despite the additional guidelines for the use of hedge fund indexes that the regulator published in July.
"The fact that hedge funds indexes
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