UCITS

Objectives

On completion of this tutorial, you will be able to:

• Describe how the key provisions of the UCITS Directive have evolved through the years since the first directive in 1985

• Outline the attractions of UCITS as an investment vehicle from the point of view of both investors and fund managers

Tutorial Overview

In simple terms, UCITS are investment funds regulated at a European level. The broad aim of the UCITS regulatory regime is to allow collective investment schemes to operate freely throughout the EU on the basis of a single authorization or “passport.”

Since their introduction in the mid-1980s, UCITS have become a phenomenal success with well over 8 trillion euro in assets under management today. The UCITS brand is now considered to represent one of the highest standards in the fund management industry.

This tutorial describes the key provisions of the UCITS Directive and how it has evolved from the original UCITS Directive to the existing UCITS V (and UCITS VI) requirements. The tutorial also looks at the main attractions of UCITS funds from the point of view of both investors and fund managers.

Prerequisite Knowledge

None

Tutorial Level

Introductory

Tutorial Duration

75 minutes