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Today is the birthday of a European success story: the first UCITS Directive dates from 20 December 1985, exactly 25 years ago. With over EUR5 trillion in assets under management, UCITS have proven to be one of the great success stories of the Single Market. UCITS are also widely sold to investors outside the EU because their high level of investor protection is popular with international regulatory authorities. Today, more than 75% of the UCITS funds distributed internationally are based in Luxembourg. LFF spoke to Camille Thommes, Director General of the association of the Luxembourg Fund industry (Alfi) about the UCITS phenomenon.
Why are UCITS products so popular with foreign regulators?
The aim of this Directive was to set up a single regulatory regime...
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