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Tackling remaining obstacles to a fully developed investment market across the EU, whilst ensuring a high level of investor protection.

Amendments to the EU rules governing collective investment funds, notably in the areas of Money Market Funds, long-term investment funds and certain aspects of the UCITS Directive (Undertakings in Collective Investments in Transferable Securities 2009/65/EC) such as eligible assets and use of derivatives, efficient portfolio management (EPM) techniques, OTC derivatives and depositaries.

Directive 2009/65/EC, which replaces the previous UCITS Directive 85/611/EEC, provides for common rules for setting up and operating investment funds in the EU. Fund managers that comply with these rules may benefit from the right to offer their services cross-border. Investment funds authorised in accordance with the provisions of this Directive may be distributed to investors across the EU after following a defined procedure for notifying the relevant competent authorities.

The UCITS rules have constituted Europe's regulatory framework for asset managers and investors since 1985. To keep the UCITS framework topical and in line with the evolution of investment markets, some reforms are envisaged.

Recent international work on shadow banking has identified certain areas that require closer scrutiny: money market funds and the use of securities lending or repurchase arrangements (repos). The short-termism of the financial markets is often not in line with the financing needs of the "real economy". Fostering a culture of long-term investment in Europe is therefore an important challenge. The intention is to address a number of concerns relating to the efficiency, competitiveness and integration of the market for UCITS funds in order to preserve the UCITS attractiveness for both professional and retail investors.

Directive on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) as regards depositary functions, remuneration policies and sanctions

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UCITS - 202213 articles out of 13.

UCITS - 20215 articles out of 5.

UCITS - 20207 articles out of 7.

UCITS - 201914 articles out of 14.

2018 UCITS
2018-12-04 EFAMA welcomes the vote of the EP’s Economic and Monetary Affairs committee amending the proposal on cross-border distribution of funds
2018-10-03 EFAMA calls on the European Commission to urgently postpone the UCITS exemption to protect consumers
2018-09-07 EFAMA: Uncertainty about trade policy and international relations causes dive in European net sales of UCITS and AIFs
2018-07-30 ESMA finds shortcomings in national supervision of efficient portfolio management by UCITS
2018-07-23 ESMA updates UCITS and AIFMD Q&As
2018-06-25 Financial Times: Europe’s investment funds scale new heights
2018-06-07 EFAMA: European investment fund net assets recorded small decline in first quarter
2018-05-29 EFAMA: Strong uncertainty in markets boosted net sales of multi-asset funds in March
2018-05-25 ESMA updates UCITS Q&A
2018-04-10 ICMA AMIC publishes statement on fund delegation
2018-03-26 EFAMA: Net sales UCITS peaked in January, supported by very strong demand for equity funds
2018-03-16 ALFI statement following the publication of the European Commission’s Proposal amending UCITS and AIFM Directives
2018-02-06 The AMF has published a study on the fees charged by UCITS distributed in France
2018-01-29 EFAMA: UCITS equity funds net sales bolstered by investor confidence in November

Prior Years Reports

UCITS - 20178 articles out of 8.

UCITS - 201616 articles out of 16.

UCITS - 201517 articles out of 17.

UCITS - 201410 articles out of 10.

UCITS - 201314 articles out of 14.

UCITS - 201238 articles out of 38.

UCITS - 201128 articles out of 28.

UCITS - 20109 articles out of 9.

UCITS - 200915 articles out of 15.

UCITS - 200820 articles out of 20.

UCITS - 200712 articles out of 12.

UCITS - 200616 articles out of 16.

UCITS - 200519 articles out of 19.

UCITS - 20046 articles out of 6.

UCITS - 20034 articles out of 4.

UCITS - 20022 articles out of 2.