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1 Jun 2010

UCITS Funds of Hedge Funds Monitor Launched

HedgeCo News - Investment manager Northern Trust is enhancing its hedge fund monitor with a new compliance module designed to support the demands of Undertakings for Collective Investment in Transferable Securities (UCITS) funds of hedge funds.

"Our latest hedge fund monitor enhancement helps fund managers running UCITS funds of hedge funds to monitor their compliance with restrictions on liquidity, concentration risk and exposure to underlying non-UCITS funds," said Ian Headon, senior product manager for alternative asset servicing at the $647.3 billion Northern Trust.

UCITS' are a set of European Union directives that allow collective investment schemes to operate throughout the European Union on the basis of a single authorisation from one member state. UCITS funds must operate within a strict regulatory framework that imposes standards on liquidity, concentration risk, transparency and other attributes.

"Northern Trust is committed to meeting the asset servicing needs of traditional and alternative investment managers, often with complex fund structures and multi-jurisdictional requirements," said Wilson Leech, head of Northern Trust's Global Fund Services business.

People Moves: Insparo Expands Hedge Fund Team

HedgeCo News - UK-based limited liability investment group, Insparo Asset Management, has appointed Man Investments’ Emma Robinson as Investor Relations Manager to the Africa and Middle East Fund, which has returned over 45% since the start of 2009.

The Africa and Middle East Fund has a range of hedge fund and emerging market investors in Europe, Middle East and the US. Emma will also take on responsibility for the firm’s investor communications and client liaison.

“The return our Africa and the Middle East strategy has made in the last 18 months has, unsurprisingly, drawn a lot of attention from investors." Jamie Allsopp, the fund's investment manager, said, "Frontier markets are in relatively robust fiscal positions when compared to their OECD counterparts, and the investment community is generally underweight this enormous growth opportunity. With the confluence of our historic returns and our optimistic outlook for our region we feel that it is the right time to increase our capabilities in client services.”

Before joining Insparo, Emma spent two years at Man Investments as an institutional sales assistant before heading up Man’s UK consultant relationship management. Prior to joining Man, Emma was with recruitment consultancy Venn Group.