The number of alternative Ucits funds has reached over 1,000, with 65% of them launching since the 2008 financial crisis, illustrating the growing convergence between hedge funds and long-only managers, reveals a new survey.

According to Naisscent Capital, a Swiss fund of funds manager, there are now over 1000 single-manager hedge funds and absolute return funds that are registered under the Ucits directive, meaning that they can be sold to retail investors.