Cost savings and transparency top reasons to choose Ucits for Italian investors, says RBC

Italian investors are interested in securities lending programmes and positive about the prospects for both the Italian equity market and AM industry, a survey from RBC Investor Services shows.

RBC Investor Services, part of RBC Investor & Treasury Service,
has recently hosted a special event for Italian pension funds, retirement
schemes, banking foundations and major asset and pension fund
managers at the Canadian Embassy in Rome.

At the end of the event participants were asked, via a self-completion questionnaire, what experience they already had of managing such funds, what they saw as the advantages of Ucits, SIFs and the Luxembourg domicile and what would be their key criteria for choosing a custodian.

The questionnaire was completed by 20 Italian asset managers.

According to the poll, 95% of respondents saw transparency as one of the most improtant reasons to implement Ucits, while for 85% of cost savings was important too.

As the RBC report shows, three-quarters of the respondents were either very (30%) or quite confident (45%) about the asset management industry’s prospects, with only 20% saying they were not very confident and none saying they were not at all confident.

Questioned over the prospects for the Italian equity market in 2013, over half of respondents (55%) said they thought the market would rise in the course of the year, as opposed to only one in four (25%) who thought it would fall and 10% who envisaged no change. 

However no one envisaged a substantial market variation either way, with both projected rises and falls in the region of 1-9%.

Respondents were also asked what they saw as the main advantages of domiciling a Ucits fund in Luxembourg rather than in Italy. As RBC reports, the majority of respondents said that the Luxembourg domicile is seen as having many and varied advantages.

Click here to read full report



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