M&G is looking to Oeic its fund range by the end of 2001 as part of its expansion plans into Europe,...
M&G is looking to Oeic its fund range by the end of 2001 as part of its expansion plans into Europe, writes Fiona Henderson.
The group plans to offer mirror funds of its current onshore range to European investors and is hoping its European business will be up and running by the end of the year.
As the group will be offering an Oeic structure in Europe, it is also looking to Oeic the onshore range. M&G is to write up proposals and will be sending these out to unit holders later in the year.
Michael McLintock, group chief executive, said he believed M&G's sector specific funds, launched earlier this year, are likely to prove popular with European investors.
M&G is to open an office in Germany and is not waiting on the Ucits resolutions within the European parliament concerning passporting of funds. These will allow groups to offer funds without setting up a physical presence within the country.
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