View more on these topics

IMA calls for immediate implementation of Ucits IV framework

The Investment Management Association supports the European Commission’s proposals for an improved legislative framework for Undertakings for collective investment in transferable securities funds.

The IMA urges the EC to implement the new proposals immediately to allow the asset management industry to benefit from an efficient single European market.

The trade body specifically welcomes the mandate given to the Committee of European securities regulators regarding the introduction of a management company passport and says it will work closely with the authorities on the issue.

Under the new Ucits IV directive, a full passport allows a fund manager based in one member state to run and trade funds in another rather than just allowing cross-border marketing as permitted under the Ucits III framework.

IMA director of international relations Jarkko Syyrila says: “Ucits has been a great European success story for the industry and investors and with increasing global competition these improvements are welcome. The provisions to improve investor protection, and reduce costs and bureaucracy will benefit the industry and investors alike.

“We now call on the European institutions to work together to ensure that all these crucial improvements to the Ucits framework can be adopted by the 2009 European elections.”

Recommended

Nucleus in trail offer to adviser

Nucleus has agreed to pay trail commission to an adviser for a temporary period after he left one of its member firms.

Advisers hit back at ABI

Advisers have hit out at the Association of British Insurers’ head of health and protection Nick Kirwan over the message the ABI is sending to consumers and its support for payment protection insurance.

Pilot put on wrong course

I don’t often make a point of coming back to discuss the same subject in consecutive weeks so I confess to feeling slightly uncomfortable this week as I write this column.

Harris Associates' view on the UK’s vote to leave the EU

By David Herro, Partner, Deputy Chairman, Portfolio Manager and Chief Investment Officer of International Equity at Harris Associates Britain’s vote to exit the European Union has led to significant uncertainty across global markets. We believe market impact of this uncertainty, though severe, is more of a shorter-term phenomenon which will provide an opportunity for long-term […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment