Foreign asset managers score victory in Germany

The German government has scrapped proposals to implement additional discriminatory tax laws that would have made foreign funds more expensive to buy than domestic ones for German retail investors. Instead, Germany's Ministry of Finance says it will now work to erase such discrimination through an overhaul of German investment fund law, the IMA says. As chief UK trade association representing fund managers, the Investment Management Association has worked closely with its pan-European counterpart FEFSI, and its German counterpart BVI to counter the German government's previous...