IMA welcomes Euro passport for OEREFs

The association issued its response following the publication of a report from the European Commission Expert Group, which recommended that EU legislation was required in order that market access barriers could be overcome. Several stakeholders cited the lack of EU passport for OEREFs as an unjustified obstacle to the market's evolution. However, the IMA called for caution on proposals to include the European passport within the already established UCITS framework, which it sees as the global gold standard for liquid and well diversified investment funds. Jarkko Syyrila, head of inter...