'We get compared with Brazil teak funds': UCIS providers speak out

Sharing tales of outlandish investment “opportunities” is fast becoming some advisers’ favourite pastime. One even keeps a folder storing his all-time favourite pitches, from green oil to self-storage. All, he said, “guarantee” returns and offer generous trail commissions. Most of these product pitchers offer Unregulated Collective Investment Schemes (UCIS), funds which have not received regulatory approval and are not covered by the Financial Services Compensation Scheme (FSCS) but which can be – and are – marketed to UK individuals through IFAs. That may be set to change. The FSA ha...