Spain has introduced legislation to enable feeder fund structures as well as relaxing legislation on...
Spain has introduced legislation to enable feeder fund structures as well as relaxing legislation on funds of funds. The new laws will open up possibilities in the domestic investment market as funds of funds become more economically-viable and feeder funds are allowed in the country for the first time. Banco Sabadell has become the first bank to set up master feeder fund structures under the new legislation. Previously, a fund of funds was treated as any other fund, with 5%-10% limitations on any one asset. This has proved unwieldy, as a fully-invested fund would therefore comprise ma...
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