Managers of Ucits funds remain unsure whether they will be hit with a bonus cap, and it’s high time for this bad idea to be killed off, says Dan Waters of trade body ICI Global.
Mutual funds do not threaten financial stability, investment industry group ICI argues in a letter it will submit today to supranational body the Financial Stability Board.
Certain EU and Iosco proposals need work, says industry body ICI Global, which has just opened an Asia-Pacific chapter and welcomed its first Chinese fund house as a member.
ICI Global, a new London-based trade organisation, has had limited contact with the Asian funds industry so far, but says that will change in the coming weeks.