Laying down the investment law

product design

The CIS Sourcebook published in April promises much with its new set of rules that aim to enable providers to launch products that are more to tailored to investors' needs - but, of course, there are still the usual pitfalls

The revised, leaner and meaner Collective Investment Scheme Sourcebook, the tome that sets out the rules for unit trusts and Oeics, has achieved that rare feat of being universally welcomed by asset managers, advisers and the press. The fervent enthusiasm for the new rulebook is understandable since it should open the gates to a generation of more flexible products that are designed to fit the needs of investors in an industry which has too often been accused of trying to fit investors into products. Launched in April, the CIS Sourcebook brings together the provisions of the European Uci...