EU looks to improve access of cross-border Ucits and AIFs

Added 2nd June 2016

The EU has launched an investigation into the barriers blocking the distribution of Ucits and Alternative Investment Funds (AIFs) in a bid to increase the take up of the products across its 28 member states.

EU looks to improve access of cross-border Ucits and AIFs

In a consultation paper published on Thursday, the European Commission said it is looking into how to improve the current system for cross-border investment funds across the EU’s single market.

The report explains that greater cross-border distribution will allow funds “to grow and become more efficient”, allocate capital more effectively and compete within national markets - delivering “better value and greater innovation”.

The consultation, part of the EU’s ‘Action Plan’, confirmed its support for the creating of a Capital Markets Union (CMU), designed to “foster” retail and institutional investment of investment funds

It will work in conjunction with two other ongoing consultations into how to implement the CMU and the commission’s recent call for evidence into the existing regulatory framework governing the financial services sector.

The EU said it intends to use the consultation to take action against any barriers currently impeding the sale of investment funds such as Ucits and Aifs.

Easier access

Guy Sears, interim chief executive of the Investment Association (IA), welcomed the move, explaining that removing barriers was a “key component” to creating the CMU.  

"CMU was born from commissioner [Jonathan] Hill's bold, broad vision to encourage growth and investment across the EU.

"The Ucits regime is already highly successful. Get this work right and people saving into investments should have easier access to these great products.

For that reason, I am genuinely encouraged by the fact that the Commission has made it clear that no subject is off limits in trying to identify any unjustifiable barriers," he said.

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About Author

Monira Matin

Senior Reporter

Monira joined International Adviser in March 2016 from Informa Global Markets where she worked as a eurobond reporter for over two years, covering fixed income markets. She has previously held a number of editorial positions covering politics, insurance and technology. Monira has a degree in Journalism and Economics from City University.


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