EU fund managers will have a level of access to the UK market which will be denied to UK groups look...
EU fund managers will have a level of access to the UK market which will be denied to UK groups looking to sell into Europe under a forthcoming Ucits directive. The directive, just approved by the European Council, includes a proposal allowing groups domiciled within the EU to sell into other member states without having to set up a localised management company in these markets. The UK is one of a number of states that would be disadvantaged under these current passporting plans. Groups would only be able to enter countries that have Oeics or Sicavs on this basis, for example ...
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