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Article: UCITS Sophisticated Funds - Taking Advantage Of Complex Mechanisms.(Undertakings for Collective Investments In Transferable Securities)
- Article from:
- Mondaq Business Briefing
- Article date:
- October 21, 2009
CopyrightCOPYRIGHT 2009 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Sophisticated funds and UCITS III
Sophisticated funds - that's the name for Undertakings for Collective Investments In Transferable Securities (UCITS) which invest directly in Financial Derivative Instruments (FDIs) or use sophisticated investment strategies. UCITS originates from the 85/611 Directive of the European Union.
Whilst the investment fund industry is bracing up for the UCITS IV package and for new regulations on the alternative investments fund managers there are still unturned stones regarding the UCITS III framework.
The 2001 Product Directive made FDIs eligible investments by UCITS and enabled portfolio managers to access ...