UCITS modernisation 'vital for Europe prosperity'

That is according to The European Fund and Asset Management Association (EFAMA), which today announces in its annual report investors poured more than €540bn into European funds last year. Steffen Matthias, secretary general of EFAMA, says: “For the fourth consecutive year there has been significant growth in the European investment fund industry. "The modernisation of the UCITS directive and the realisation of a level playing field in the European market for savings and pension products now becomes increasingly urgent to maintain that successful and competitive edge.” The EFAMA factbook...