When a group from the unit trust industry first approached the Treasury in the early 1990s to ask fo...
When a group from the unit trust industry first approached the Treasury in the early 1990s to ask for the new set of fund regulations - the regulations that ended as Oeics - the main justification was the fact it was impossible to export the old UK unit trust. The reformers made a number of points. Unit trusts could only deal in one currency which was hopeless, of course, for the international investor who may have dollars or Deutschmarks in their bank accounts. Funds based in Luxembourg or Dublin allowed managers to offer umbrella funds with a variety of share classes with different pric...
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