Hedge funds in the U.S. and the U.K. are taking a serious look at setting themselves up as registered mutual funds in the EU as the simplest way to cope with proposed rules in the region. Traditional hedge fund domiciles, such as Delaware and the Cayman Islands, fall short of the proposed Directive on Alternative Investment Fund Managers. A recent relaxation of EU rules makes it easier to run hedge fund strategies within the European mutual fund structure.

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