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Lynx Asset Management unveils Ucits-compliant fund on DB platform
Feb 25, 2011 by Charles Gubert
Quant driven alternative investment management firm Lynx Asset Management has launched a Ucits III-compliant fund on the Deutsche Bank DB Platinum IV Platform.
The DB Platinum IV Lynx Index is managed by Lynx, which is part of the Brummer & Partners group in Stockholm. The fund will be managed by Jonas Bengtsson, Svante Bergstrom and Martin Sandquist. It will offer daily liquidity.
Svante Bergstrom, chief executive officer and founding partner of Lynx, said he wanted to make the Lynx fund available to a new investor base. “To consider launching a Ucits fund, it has been important for us to limit the tracking error of our flagship fund.” He added the dbSelect platform offered by Deutsche Bank would enable them to do this.
Investor demand for Ucits products has prompted several big name hedge fund managers including Paulson & Co and Sloane Robinson to unveil Ucits III-compliant funds.
Capital allocations into Ucits compliant absolute return funds in 2011 could significantly outstrip the inflows into Cayman funds, according to a recent Deutsche Bank survey of sophisticated investors. It was revealed that investors – albeit overwhelmingly European- would allocate more than $185 billion into Ucits compliant absolute return funds over the next 12 months. It is estimated there are currently $140 billion in assets under management in these funds, according to the Deutsche Bank Hedge Fund Capital Group. However, the latest investor survey by the firm indicated this figure could more than double by the end of 2011.
The findings also revealed that 72% of wealth management companies, 67% of family offices and 61% of private banks would prefer a Ucits structure to a Cayman version of the same hedge fund.
