'New City Initiative' urges UK fund structure to rival UCITS and AIFMD

The New City Initiative (NCI) has called for the establishment of a new UK fund structure, which could 'rival' the successful European UCITS and AIFMD models, and has argued that tax reform is vital to promote the UK as a 'leading centre for investor protection.' A new report authored by Charles Gubert, a consultant to the group, argued that a UK competitor to the EU's UCITS, which recently achieved €10trn in total assets, and AIFMD structures would encourage "competition to thrive" and help "facilitate the onshoring of more asset servicing roles," which would in turn help generate jobs ...