UCITS Funds

23 September 2010 London

Strategies for Setting up and Investing in Ucits Funds

A one day intensive course on UCITS funds for Asset and Fund Managers, Investment Bankers, Hedge Funds and Institutional Investors exploring:

  • The use and structure of UCITS III
  • Changes under UCITS IV
  • The key features of UCITS
  • Structuring UCITS and authorisation process
  • Eligible assets in UCITS funds
  • The key features and applications of UCITS as an asset class
  • Main legal requirements
  • Governance, transparency, custody and depositaries
  • Application of equities, bonds, fund of funds derivatives, 130/30 and other instruments
  • UCITS Alternatives
  • Distribution of UCITS
  • Leverage and VaR
  • Use of UCITS for funds and hedge funds 

Our former delegates attending this course included: Credit Suisse, UBS, Brevan Howard, Linedata, EFG Hermes, Cadwalader, Bingham, Coriolis Capital and more.

 


UCITS Funds - A One Day Programme
           
Session OneIntroduction to UCITS

  • What are UCITS?
  • UCITS I, III and IV
  • The European “Gold Standard”
  • Who sets them up?
  • The UCITS passport

Products

  • Plain vanilla
  • ETFs
  • UCITS Alternatives


The key features of UCITS

  • Asset classes/eligible assets
  • Liquidity
  • Diversification
  • Borrowings and leverage
  • Governance and transparency


Session Two: Structuring UCITS

  • Legal structures
  • Variable Capital Investment Company
  • Unit Trust
  • Common Contractual Fund
  • Key differences
  • Sub-Funds/Classes: assets/liabilities; distinguishing features
  • Subsidiaries


Session Three: Governance, Transparency and Custody

Governance and Transparency

  • Governance
  • UCITS Management Company
  • Self-Managed Investment Company
  • Two-Man Management / 8 Key Management functions
  • Liability and Responsibility
  • Capitalisation
  • Practical matters: reports, review, oversight


Custody & Depositaries

  • Custody
  • Sub-Custody
  • Independence
  • Trustee functions

Transparency

  • Participants
  • Promoter/Investment Manager
  • Periodic Reports
  • Annual Audit
  • Semi-Annuals
  • Monthly
  • Money Market Funds
  • ESD
  • Trustee Reports

Session Four: Distribution of UCITS

  • EU/EEA and beyond
  • Facts and Figures
  • Retail and Institutional
  • Consolidation
  • Current and UCITS IV notification processes
  • Ex-EU/EEA
  • US/EU investors and master/feeder

Session Five: Eligible Assets and UCITS Alternatives

Eligible Assets

  • Principles
  • High level investment restrictions
  • Eligible Assets
  • Transferable Securities
  • Money Market Instruments
  • Index Trackers/Replicators
  • UCITS Funds of Funds
  • Cash
  • Financial Derivatives


UCITS Alternatives

  • Long/Short Equity Products
  • Absolute Return
  • Structured Products
  • Hedge Fund/Commodities Index Products
  • Loan Products


Session Six


Leverage and VaR

  • Borrowings v Leverage
  • High level principles
  • Sophisticated v Non-sophisticated
  • VaR:  Absolute/Relative
  • Hedging/Netting

Session Seven

Authorisation Process

  • Promoter Approval
  • Investment Manager Approval
  • Interaction with Regulator
  • Documentation List
  • Negotiation
  • Authorisation
  • Notifications and Launch


Questions and Answers

John Skelly

John is a specialist in the development of investment compliance, and is also active in the promotion and development of UCITS III management company substance solutions. He acts as a ‘designated person’ for a number of regulated fund management companies under the UCITS III regime, and sits on the board of several of Irish funds. John is an expert in fund operations, having been COO at Carlton Capital Partners in London prior to joining Carne, and a former General Manager with the Dublin branch of BNP Paribas Securities Services. He has carried out a number of operational reviews for Carne clients, including a major Irish bank. John trained as a chartered accountant with Deloitte & Touche in Dublin.

23 September 2010 London

Early Bird discount till 20 of August £820 + VAT

Regular Price: £920 +VAT

3 people - 10% discount when registered at the same time. 

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DISCOUNTS

  • 3 people - 10% discount. Delegates have to be from the same company and register at the same time.
  • Sign up to 2 of our courses at the same time and you receive 10% discount on the cheaper course. This discount cannot be combined with an early bird offer.

IN-HOUSE TRAINING

  • If you have a team of 4 or more this course can be customised and organised in-house at your convenience. Contact one of our advisors to find out more.

                Call us now on +44 (0) 207 193 5035

or send an e-mail to: enquiry@eurekafinancial.com


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