Ucits III:The holy grail?

Over the past decade, the European mutual fund industry has developed significantly, not just in overall size, but also in terms of how funds are distributed both within national borders and across Europe. In particular, Ireland has seen an increasing amount of cross-border activity since the introduction of the 1985 Ucits Directive which sought to harmonise the structure of certain collective investment schemes (Ucits) and to remove barriers to the free movement of capital among them. The 1985 Ucits Directive has since been radically updated by the 2001 Ucits Directives (Ucits III), which ...