"UCITS III and the globalisation of the fund industry have reshaped the dynamics of the fund business. As a result a new infrastructure is emerging with the capability to sustain rapid growth in years to come when UCITS IV is implemented. RBC Dexia and Create’s new report "Global Funds Distribution – Bridging New Frontiers" offers a comprehensive insight into the impact of UCITS III, the continued globalisation of the funds industry and the evolving relationship between manufacturer, distributor and third party administrators.  

The UCITS framework has produced tremendous benefits for the fund industry, its managers and clients throughout the past decade. However, its resounding success has also spawned a number of pressing, new challenges, according to a new report.

The report, titled “Global Fund Distribution – Bridging New Frontiers”, found that cross border funds have averaged an annual growth rate of 20% over the past five years. In the process, UCITS has reshaped the dynamics of the fund business. 82% of survey respondents have been able to engage in rapid product development and 77% have improved their ability to do cross-border business. In addition (and perhaps surprisingly, given that UCITS was primarily aimed at retail clients), there has been more take up of UCITS funds among the institutional sector (51%).

The fortunes of The Clearing Corporation (C-Corp) have been rocky since it parted company with Chicago Board of Trade (CBOT) at the beginning of 2004. Mike Topping takes a look at the institution hoping to stage an almighty comeback.