UCITS III makes an appearance through Iimia

clock

Latest standards of European regulation of the financial services sector have been cited by Iimia as the basis for its new Oiec that will mix closed and open-ended funds for the first time.

UCITS III – Undertaking for Collective Investment in Transferable Securities – means Iimia’s vehicle will mix growth, income and growth and income sub-funds under one umbrella depending on the individual investor’s objectives. Each of the sub-funds will be free to choose investments from a total range of some 2,600 closed and open-ended funds. Coupled with the broader universe of funds, the new Oeic will also apply management fees on an absolute basis – although not applicable in the same way as a hedge fund. In short the charge will consist of a 1% annual management fee, with a p...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers expecting more of asset managers since Consumer Duty

Advisers expecting more of asset managers since Consumer Duty

‘We actually need to understand one another better’

Hope Coumbe
clock 28 March 2024 • 1 min read
Fears tech limitations could stall MPS on its upward trajectory

Fears tech limitations could stall MPS on its upward trajectory

‘There have been a few changes and challenges around growth in general’

Hope Coumbe
clock 27 March 2024 • 1 min read
Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 27 March 2024 • 5 min read