Pre-migration untagged articles

With Ucits III — the new EU directive governing fund investment — due to come into full effect in February 2007, many in the fund industry believe the rules are failing in their stated intention of creating a single European capital market. The third version of the EU's directive on undertakings for collective investment in transferable securities was supposed to harmonise listing rules across the EU and extend the range of assets eligible for investment by regulated funds to commercial paper, MTNs, financial derivatives and units in other investment funds.