The UCITS wrapper has created the framework for a unified investment platform, according to new research by consultants Celent.
In its 30-page report, UCITS IV: Implications for the Asset Management Industry in Europe, states there is an increasing need for developing platforms with standardisation for data referencing, managing complex workflows and distribution networks aimed at a disparate set of investors.
Ravi Nawal report author and senior analyst at Celent
The number of platforms has increased since hedge funds managers started to convert their strategies into the UCITS wrapper. The flourishing industry includes large investment banks like Bank of America Merrill Lynch and Deutsche Bank as well as independent platforms like Merchant Capital and ML Capital.