Central Bank publishes Twenty-third Edition of UCITS Q&A
Funds
Date:
05 July 2018
On 5 July 2018, the Central Bank published the twenty third edition (PDF 1.04MB) of the Central Bank UCITS Q&A. Question ID 1002, in relation to UCITS investing in non-UCITS investment funds, is amended.
The amendments clarify that where a UCITS invests in a non-UCITS fund, the constitutional document of the non-UCITS must include a prohibition on investing more than 10% in other investment funds; and that the non-UCITS must be subject to requirements in its jurisdiction of domicile which are equivalent to certain UCITS investor protections. If this is not the case the non-UCITS fund must have requirements of the same effect in its constitutional document or offering document.
UCITS should be in compliance with this revised Q&A as soon as possible taking into account the best interests of the investors. In any event, compliance should be ensured no later than 5 October 2018.
More information:
UCITS