26/04/2012
Yann de Saint-Meleuc: “UCITS doesn't resolve operational difficulties”
In a study entitled “Management takes aim at Europe with UCITS IV,” which appears in Agefi Weekly on 26 April, Yann de Saint-Meleuc, associate director fo the Finance unit at Euroland Consulting, explains that the UCITS IV directive does not eliminate borders in Europe. Product sales may be easier, but that does not eliminate operational difficulties, such as fund processing, which remains complex whenever working in several countries. “There is still a lot to do to improve the administrative chain between various players based in different countries, particularly if the asset management firm wants to be able to identify foreign subscriptions,” the head explains. Also, he says, the real winners out of the changed introduced in the UCITS IV directive are small and mid-sized asset management firms, which are just beginning to diversify their sales into channels beyond their home countries. “UCITS IV reduces the cost of entering international markets,” de Saint-Meleuc explains.
