Master UCITS meaning

In this edition EU fundamentals Commercial Competition and state aid Corporate Data protection and cybersecurity Dispute resolution Free movement, immigration and employment Financial services Energy Environment Insurance and reinsurance IP Life sciences TMT International trade Daily and weekly news alerts New and updated content Trackers EU fundamentals Council of the EU and Parliament agree on €192.8bn budget for 2026 The Council of the EU and the European Parliament have settled the EU’s 2026 budget, setting commitments at €192.8bn and payments at €190.1bn, equal to 1.00% and 0.99% of the Union’s gross national income. The plan focuses on competitiveness, defence preparedness, humanitarian support and migration management, while preserving room to react to unforeseen crises. Under the 2021–27 multiannual financial framework, €715.7m remains for unexpected costs, with funding channelled to the single market, cohesion, the environment, security and external engagement. As the sixth annual budget in the...

This Practice Note outlines the principal features of Directive 2009/65/EC, as amended (Undertakings for Collective Investment in Transferable Securities (UCITS) Directive), including the UCITS regulatory framework, the authorisation process, operating UCITS on a cross-border basis, UCITS management companies, master-feeder structures, depositaries, remuneration, and investment information... What is a UCITS fund? UCITS funds are authorised open-ended investment vehicles that can be marketed to retail investors throughout the EU, provided they comply with, for example, the Directive’s rules on diversification and eligible investments. EEA UCITS funds must be both managed and domiciled within the EEA... Definition and requirements of a UCITS fund Article 1 of Directive 2009/65/EC (the UCITS Directive) defines a UCITS as an undertaking that has: the sole purpose of collective investment in transferable securities or certain other liquid financial assets using capital raised from the public, operating on the principle of risk-spreading; and units which, at the request of holders, are repurchased or redeemed, directly or indirectly, out of the undertaking’s...

Banking & Finance glossary A Auditing and Accounting Organisation for Islamic Financial Institutions (AAOIFI) The foremost Islamic, international, autonomous, independent, not-for-profit corporate body that develops and issues accounting, auditing, governance, ethics and Shari’ah benchmarks and standards for Islamic Financial Institutions (IFIs) and the wider Islamic finance sector. Founded in Bahrain in 1991, it is backed by a number of institutional members across more than 45 countries, including central banks and regulatory authorities, financial institutions, accounting and auditing practices, and legal firms. Its pronouncements are currently applied by leading Islamic financial institutions across the world and have advanced a progressive and gradual harmonisation of global Islamic finance practice. It also delivers professional qualification programmes—notably Certified Islamic Professional Accountant (CIPA), Certified Shari’ah Adviser and Auditor (CSAA), and the corporate compliance programme—in efforts to strengthen the industry’s human capital and governance frameworks. For further details, see Practice Note: Key participants in the Islamic finance industry—Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI). Acceleration Acceleration is the formal action...

This Practice Note examines key aspects of the UK UCITS regulatory regime, covering the authorisation process, UK UCITS management companies, master–feeder structures, depositaries, remuneration, investment information, and UK implementation and areas of UK divergence following the UK’s withdrawal from the EU. What is the UCITS Directive and what is a UCITS fund? Within the EU, the UCITS Directive—also known as UCITS IV (Directive 2009/65/EC)—replaced the original UCITS Directive in 2011 (Directive (EEC) 85/611). The objective of the initial UCITS Directive was to build a single market for open-ended retail investment funds, offering improved investor protection. The final text of UCITS IV was published in the Official Journal of the EU (the OJ) on 17 November 2009, with EU Member States required to implement it by 1 July 2011. UCITS funds are authorised open-ended investment funds that may be marketed to retail investors across the EU, provided they satisfy the Directive’s conditions, for example on diversification and permitted investments. EEA UCITS funds must be managed and domiciled within the...