FT.com / Companies / Financial Services – UK hedge funds to launch onshore vehicles

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FT.com / Companies / Financial Services - UK hedge funds to launch onshore vehicles.

Several of London’s largest hedge funds are poised to launch onshore funds in order to trump strict new regulations expected from the European Union.

Cheyne Capital, the $6bn (£3.6bn) hedge fund manager, is set to become the latest high-profile London name to launch a so-called Ucits III fund, people told the Financial Times.

Man Group, which with $43.3bn in assets under management is Europe’s largest hedge fund operation, is to announce the launch of a similar fund – its second – on Monday.

Regulation works.

And brings tax revenue back too.

Funny that.