Rachel Hanger, partner in KPMG's investment management & funds practice, explains the new UCITS IV legislation.
The European Union (EU) continues to strive to create a single efficient European market for investors and the latest step in this process is the introduction of the Undertakings for Collective Investments in Transferable Securities (UCITS IV) Directive. UCITS are funds that adhere to specific regulatory requirements e.g. asset diversification. UCITS IV is designed to enhance the existing UCITS framework which allows for EU wide distribution of UCITS. UCITS IV should enable investors to benefit from clearer information which should help in reaching more informed investment decisions. ...
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