Page 5 - European investment_preview

8.3 Remuneration guidelines under the UCITS Directive 141
8.4 Remuneration guidelines under the AIFMD 143 9. Activism 146 9.1 Definition and characteristics 147 9.2 Criticisms 150
ACTIVELY MANAGED PRODUCTS: UNDERTAKINGS
FOR COLLECTIVE INVESTMENT IN TRANSFERABLE
SECURITIES (UCITS) 153
1. Historical background 153
2. New regulatory proposals: UCITS VI 155 2.1 Delegation 155 2.2 Liquidity risk management 156 2.3 Regulatory reporting 157 2.4 Depositaries 158
3. Statistics 158 3.1 Volumes 158 3.2 Domiciles 159 3.3 Promoters 162 3.4 Distribution markets 163
4. Characteristics 163
5. Eligible investments 166
6. Investment limits and borrowing restrictions 169
7. Compensation 170 7.1 The fund industry financial ratios: the TER 176
8. Structures in Luxembourg and Ireland 178 8.1 Legal structures in Luxembourg 178 8.2 Legal structures in Ireland 179 8.2.1 Variable Capital Companies (VCCs) 181 8.2.2 Irish Collective Asset-management Vehicles (ICAVs) 182 8.2.3 Unit trusts 183 8.2.4 Common Contractual Funds (CCFs) 184
ACTIVELY MANAGED PRODUCTS: ALTERNATIVE
INVESTMENT FUNDS (AIFs) 187
1. Historical background 187
2. New regulatory proposals: AIFMD II 190 2.1 Delegation 191 2.2 Liquidity risk management 192 2.3 Loan origination 192
TABLE OF CONTENTS
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