Readers will also note the comprehensive data tables in the following seven pages. In these tables all of the funds registered in the UCITS Hedge database from inception are reproduced. The funds are organised by strategy and ranked by returns for 2011 through the end of the third quarter at 30th September.
Several trends are readily apparent. Daily liquidity is offered by nearly 75% of funds which is little changed from the 76% of funds that offered it at the time of our last analysis of the database in 2010. Once again Luxembourg leads as the most popular domicile for UCITS hedge funds even though many managers have privately reported delays in obtaining regulatory approval. Though Luxembourg dominates as a domicile centre with 57% of UCITS hedge funds, Ireland, France and the UK with a combined 41% share are offering viable competition.
Where managers are located may offer an important clue about how the UCITS hedge fund sector will continue to develop. Unsurprisingly, the UK is well out in front, hosting 58% of managers. France has also seen strong growth and is now home to 19% of UCITS hedge fund managers.
However, the biggest proportional gain has happened in the US which is the home to 9% of UCITS hedge fund managers. Given the continued dominance of US managers in the global industry we would expect this relative share to go on rising.
