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...

ISSN: 2151-1845 / CDC10004H

TAKE A FREE TRIAL

The full contents of this article are available to active Absolute UCITS subscribers and trialists only.

To continue reading please,
take a free trial or subscribe to Absolute UCITS.

Subscribe

Subscribers have unlimited access to all current content, including UCITS fund performance Live League Tables. Start your subscription today - click on the button below.

Subscribe now