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By Olivier Renault, Managing Director – Securities Services, Société Générale Bank Trust
Semiconductors have their Moore’s law which predicts that chip performance has an exponential growth (it doubles more or less every two years). UCITS regulation has its own rule: the delay between two versions is the half of the former one.
Just before Christmas 1985, in order to facilitate cross-border offerings of investment funds to retail investors within the EU, the first UCITS Directive was published. Sixteen years later, UCITS III regulation (UCITS II was killed before its publication) widened the underlying type of instruments allowed in the funds and the minimum standards required from a UCITS Management Company.
Eight years...
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