There should be a return of ‘truecits’, according to Fidelity Worldwide Investment in its response to the European Securities and Markets Authority’s discussion paper into structured UCITS.
The asset manager is one of the most prominent advocates for splitting UCITS into complex and non-complex categories.
Fidelity is advocating that UCITS investment powers revert to its original principle because the UCITS brand needs repairing to gain a valuable foothold in Asia.
The asset manager has argued ‘strongly for’ UCITS being split into complex and non-complex categories within ‘the remit of the Alternative Investment Fund Management Directive going forward.’
This would cleanse the