« Debt-focused hedge funds ‘leading way’ | Main | Banks' love affair with hedge funds »
October 9, 2006
Spain: retail fund of funds gain access to hedge funds
Spaniards will now be able to invest in hedge funds through fund of funds under new regulations passed by the regulator, the CNMV (Comisión Nacional del Mercado de Valores).
The new legal framework allows fund of funds registered for sale in Spain to invest a maximum 10% in hedge funds.
Due to the complex legal procedure, at the moment only six hedge funds have been registered for sale in Spain. Promoters of these six are Santander, BBVA, Deutsche Bank, Barclays, UBS and Nmás.
Several asset managers including Santander, Bancaja, and Cajamadrid have already gained authorisation to invest their fund of funds in the hedge funds.
-CityWire-
Posted by su at October 9, 2006 11:24 AM