What does Ucits III mean for me?

KNOWLEDGE CENTRE

In the third of a series of topical briefing notes, Knowledge Centre considers the role Ucits III play in the global economy

What on earth is Ucits III? Ucits stands for Undertakings for Collective Investment in Transferable Securities and is a European Union directive dating back to 1985. The idea was to produce a common regulatory framework that would allow investment funds to be marketed across borders in the EU. But while the regulatory framework may have been defined, differences in local tax laws and marketing rules meant the system was not a great success. In 1998 another two directives were put forward that became known as Ucits III. These were adopted by the EU in 2001 and have been applicable in the UK...