Current Hedge Funds trends: The evolving state of Ireland

Elaine Keane of Simmons and Simmons discusses the market landscape in Ireland right now in a roundtable alongside Barry O’Brien of U.S Bank and Colin Keane of SS&C. A range of topics are covered including Brexit, Cryptocurrency and the effect of recent regulation.

This article was originally published by HFM Global who have agreed to it being made available on Simmons & Simmons elexica.

What are the current strategic trends in Ireland and those that may emerge in 2019?

We have seen a shift in the structure and operation of funds on the Ucits and the hedge side of the business. This change is in line with some of the key messages within the recently published Aima Perspectives paper. Many managers are now considering a deviation from the standard Cayman master-feeder structure to optimise their fund so that it can be marketed to all investors, regardless of their geography or tax treatment, with some using the Irish Icav as the master funds leaving the potential for an Irish Icav at the feeder level as an entry point for European investors.

Hedge fund managers are also exploring the way in which investments are identified and then made with a key focus on innovation driven by the populism of smart and alternative beta models. These managers are also seeking ways to tap into the retail investor space where the larger institutional managers and more traditional ETF providers have a considerable presence. We see 2019 as being a year for innovation in this space, with more alternative managers dipping their collective toes into the Ucits market through hedge fund ETFs, CTA strategies and liquid alternatives, whether that be on a standalone basis or in conjunction with an established manager with a retail client base.

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