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FINANCIAL MARKET COURSES

Undertakings for Collective Investment in Transferable Securities (UCITS)

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

  • OBJECTIVES

    On completion of this course, 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

  • COURSE OUTLINE

    Topic 1: UCITS Directive

    Scope & Key Definitions

    Authorization

    Territorial Scope

    First UCITS Directive (UCITS I)

    From UCITS I to UCITS III

    UCITS IIII

    o Product Directive

    o Management Directive

    From UCITS IIII to UCITS IV

    UCITS IV

    o New Form of Management Company Passport

    o Key Investor Information Document (‘KIID’)

    o Harmonized Legal Framework for Fund Mergers

    o Framework for Master-Feeder Structures

    o Improved Notification Procedure

    o Improved National Regulator Cooperation

    UCITS V

    Topic 2: Attractions of UCITS for Investors & Fund Managers

    Attractions of UCITS for Investors

    o Liquidity

    o Transparency

    o Risk Management

    o Eligible Assets

    • Investment Restrictions

    o Borrowing Restrictions

    o Taxation

    Attractions pf UCITS for Fund Managers

    o Cross-Border Opportunities

    o Regulated Status

    o Fund Structures

    o Investment Flexibility

    o Retail & Institutional Product

    o Taxation

    o Global Brand

  • PREREQUISITE KNOWLEDGE

  • ESTIMATED COMPLETED TIME

    75 Minutes

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