Comment by Joy Dunbar, Editor of Absolute UCITS
Many of the best movies have sequels to capitalise on the success of the original franchise.
It seems like UCITS is turning into the asset management version of an American movie franchise.
Like Rocky, Ghostbusters, Back to the Future, Police Academy and others with a long trail of sequels, new versions of the innovative directive are still coming out thick and fast. In the last decade, UCITS III was adopted in 2002 and since then three further versions have been consulted upon.
The original concept of UCITS was a great idea back