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Disparity in regulation and tax legislation between individual member states means that it will be more than five years before there is a fully functioning cross-border fund distribution market in Europe. These are the main findings of a fund manager survey recently conducted by KNEIP, the leading service provider to the fund management industry, in the run up to the EFAMA Investment Management Forum in Brussels. The survey interviewed CEOs of European fund management houses with a combined total of AUM of EUR1.8 trillion. According to the findings, 83 per cent of respondents think that it will be more than five years before an efficient cross-border fund distribution market can become a reality, with 67 per cent citing disparity in regulation and tax legislation as key obstacles. In...
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