Managers warn against restrictions on UCITS

Thu Sep 29, 2011

Restricting the scope of UCITS funds may result in investors being pushed towards less regulated financial products, according to a top Paris-based asset management firm.

Amundi, which was formed by the Credit Agricole and Societe Generale financial groups, states in a submission to the European Securities and Markets Authority that it believes that UCITS are suitable for retail investors.

Amundi states: "Having a complex category would allow wealthy investors to invest in those products while preventing mass retail distribution."

BlackRock, the largest asset manager in the world, says in its submission: "A major unintended consequence of dividing UCITS into complex and non-complex categories could be that retail investors are directed away from UCITS products, which are highly regulated, to the competing lightly regulated suite of...


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