Duration
January 2009 to January 2011

Description
Hedge-Funds (HF) are well known alternative investment undertakings using alternative investment strategies. Recently, these alternative investment undertakings heated up discussions on regulatory issues such as disclosure and transparency.

Our objective is to show, if any specific distribution characteristics of various HF domiciles exist and if a comprehensive regulation of HF does refer or does not refer to specific regulation characteristics.

Intended goals of the project are (1) to gain a better understanding of alternative investment undertakings regarding HF specific regulations, (2) to provide policy makers with arguments towards a comprehensive national regulation for HF and (3) to advise asset managers and fund promoters in their choice of a HF domicile.

Reference to Practice
This research project has a particular significance for Liechtenstein as a growing fund domicile and a place with a good reputation in the professional advisory service. Our project supports the ongoing development of Liechtenstein as a fund domicile by offering investment vehicles to use alternative investment strategies like HF.

In addition we are able to contribute to the ongoing discussion of alternative investment undertakings in Europe.

With our findings Liechtenstein can improve its regulatory framework to become a more competitive HF domicile. This is strengthening both Liechtensteins postion as a growing fund domicile for alternative investment undertakings and its professional advisory service in private wealth management.