Asset managers are embracing the UCITS IV directive in Europe, and are turning to master/feeder structures as the number of asset managers and funds decline, KPMG reports.

“The fund industry is currently facing numerous challenges in these turbulent economic times that have impacted assets under management and profitability across the industry,” said Peter De Proft, director general of the European Fund and Asset Management Association. “One of the important strategic steps for players in the UCITS industry is to fully explore how to take advantage of UCITS IV.”

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