FSA looking to increase flexibility of unit trusts

The forthcoming FSA Consultation Paper on the collective investments scheme aims to make unit trusts as flexible as Oeics and broaden the range of vehicles available to investors. The regulator's proposals, due out later this week, seek to even out Oeic and unit trust legislation. Retail funds will be split into Ucits and non-Ucits vehicles, while funds for institutional and professional investors, dubbed non-retail, will be authorised for the first time. The alignment of Oeic and unit trust legislation follows on from N2 last November, when greater flexibility was added to Oeics such ...