UCITS V: What do managers need to know?

Asset management groups have just six more months to comply with the fifth iteration of the UCITS directive, which is set to increase the gap between UCITS and AIFMD funds and also overhaul fund manager remuneration policies. Charles Bathurst, consultant to the board of SuMi Trust, explains the changes in detail

Separating the alternatives European regulators are looking to push the bifurcation of the UCITS and AIFMD (Alternative Investment Fund Managers Directive) market further with the introduction of UCITS V. The measures in the new directive add to the rules specified in UCITS IV rather than replacing or intensifying them, but the additions do move the European regulatory system one step closer to succeeding in its aim of dividing the European funds markets between funds regulated under UCITS and AIFMD. Unlike alternative funds regulated under the AIFMD, UCITS funds enjoy the use of an...