Ucits IV: More flexible, but more costly?
Margaret Harwood-Jones of BNP Paribas outlines some key changes that will be introduced by Europe's forthcoming fund-passporting standard.
The next evolution of the Ucits fund standard is set to prove as appealing as its predecessor, thanks to the increased flexibility it offers asset managers and the greater protection it gives investors.
Having said that, Ucits IV may incur greater costs for fund managers than Ucits III in certain areas. That may explain why some of the most vocal demand for the new standard is coming from investors themselves.
Due to be introduced from July 2011, Ucits IV has three broad aims, says …
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