Around a third of UCITS funds are sold to non-EU investors and the product is one of the most successful financial exports from Europe.
Sanjiv Sawhney, global head of fund services for Citi in Luxembourg, said during the UCITS IV debate at the Association of the Luxembourg Fund Industry spring conference that many non-EU investors are not benefiting from increased regulation but are paying for it.
Sanjiv Sawhney from Citi
He told the audience: UCITS IV is an efficiency directive. How are Latin American and Asian investors going to benefit? That question needs to be answered