By Michaël Malquarti (pictured), SYZ Asset Management – Although the phenomenal growth in index management since the 1990s had already begun to shake up the fund management industry, the 2008 crisis triggered a more profound reform process. This change is particularly visible in the alternative investments arena. As well as reinforced standards governing hedge funds, the most spectacular transformation has probably been the emergence and astonishing growth of alternative UCITS in Europe.