European alternatives asset manager Reech AiM has turned its back on the Ucits fund market, six months after saying it was hiring more sales people to cover it, as part of a fundamental restructuring of its business.

Reech AiM, founded by the eponymous Christophe Reech in 2006 and regarded as innovative, will focus on a pair of strategies that it will sell to investors other than those in the retail market.