Eurekahedge launches Ucits hedge fund index as universe grows

Eurekahedge has launched a Ucits hedge fund database and index with a universe of 600 funds representing $100 billion in assets under management.

The information provider said it expected the universe of Ucits-compliant hedge funds to hit 1,200 by the end of 2010 after 125 launches during the first five months of the year.

Eurekahedge CEO Alexander Mearns said Ucits-compliant hedge funds accounted for 7% of the total hedge fund universe but had attracted 20% of net inflows for the year to date.

The database is likely to grow over the next months as Eurekahedge is currently gathering information on a further 380 funds.

Information included in the database includes strategies, instruments traded by the funds, service providers, fee structures and liquidity and comparative industry statistics and calculations.

Other providers that have launched Ucits hedge fund indexes and databases include Hedge Fund Research, HedgeFund Intelligence and a partnership between technology services provider 2n20.com and indexing company Structured Solutions.