Greater cooperation within the European Union has resulted in new rules to make the sale of funds more harmonious between different member states.Twenty-five years ago UCITS legislation came into force with the aim of creating greater harmonisation between different European Union countries.
Tim Gardner from Signet
The costs and requirements of establishing a UCITS fund can vary enormously depending on the country, according to executives and consultants within the industry.
Bill Blackwell, chief operating officer and principal consultant of London-based consultants Carne Global Financial Services, says: “Legal and translation costs associated with passporting tend to be a big issue. These costs and requirements differ depending on which jurisdiction you are in. Each regulator closely monitors those entries offering financial