Industry veteran counters Alfi view on Ucits

It is highly unlikely that the Ucits fund structure will be recognised under upcoming Hong Kong-China mutual recognition in the medium term, said an Asia-based funds industry veteran. His comment follow suggestions to the contrary made last week by a European lobbying group. Last week, Marc Saluzzi, chairman of the Association of the Luxembourg Fund Industry (Alfi), argued that a deal with China to allow Ucits products to participate in the MR scheme was likely within two years. …