A few weeks after UCITS V was published, what is being unofficially called UCITS VI has also made a muted debut.
The consultation, Product Rules, Liquidity Management, Depositary, Money Market Funds, Long-term Investments, considers no less than eight different areas.
But eligibility of assets and efficient portfolio management techniques are the most significant elements of the consultation, according to Christian Szylar, global head of risk and performance for London-based Marshall Wace.
The development of the UCITS directive
The original UCITS directive was adopted in 1985. The second directive was abandoned in the early 1990s when a common position could not be reached. The UCITS III and IV were transposed in 2001 and 2011 respectively.
UCITS V was published in July 2012 and a few weeks later what is being unofficially called UCITS VI was also set in motion.
Why has UCITS VI come out so soon after UCITS V?