Ucits in China? Wishful thinking, says BBH exec
It would make little sense for China to accept Ucits funds or to merge with other Asian passport schemes, says Sean Tuffy, head of regulatory intelligence at custody bank BBH.
There is still talk in Europe of Ucits products being allowed in China via the cross-border mutual recognition of funds (MRF) scheme, but it is wishful thinking, argues a senior executive at custody bank Brown Brothers Harriman.
Lobby groups, such as the Association of the Luxembourg Funds Industry, have previously pointed to talks happening on Ucits being included in the MRF.
“That [idea] seems crazy,” said Sean Tuffy, Dublin-based head of regulatory intelligence at BBH. Beijin…
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