One Year Ago
York Capital Management and Goldman Sachs Asset Management turned to the UCITS III structure fearing that European regulations might make it all but impossible for U.S. funds to take capital from foreign investors. Using the mutual fund-like “Undertaking for Collective Investments in Transferable Securities” was a way to legally avoid any such restrictions by creating so-called passports to continue attracting overseas investors regardless of rule changes.
Today,
