Restrictions preventing several funds of funds from investing in Ucits III vehicles using the full s...
Restrictions preventing several funds of funds from investing in Ucits III vehicles using the full scope of their powers will be lifted from 1 June. Amendments to the FSA Handbook mean fund of funds from Credit Suisse, Jupiter and New Star will therefore be free to invest in Ucits III vehicles without the latter having to curb what it can invest in. Under Ucits III, schemes can hold up to 20% in other collectives. But those wishing to be a viable holding for a fund of funds must restrict this to 10% to prevent the emergence of a magic circle-type situation. Until now, funds of funds oper...
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