Written by Angelos Delivorias (1st edition),
Investment funds are products created to pool investors’ capital and to invest it in a collective portfolio of securities. In the European Union, the characteristics of a range of different types of investment funds have been established in Union law, and most funds on the market are categorised as one of these types. The market in the EU is smaller than in the United States, despite there being far more funds in the EU. This is the reason why the European Commission has adopted two legislative proposals: one for a regulation aligning national marketing requirements and regulatory fees and harmonising the process and requirements for the verification of marketing material by national competent authorities, and the other for a directive harmonising the conditions under which investment funds may exit a national market and allowing European asset managers to engage in pre-marketing activities.
- July 2018: ‘Cross-border distribution of investment funds‘ (1st edition)