| From Arabnews.com: Asset and fund managers have a new option in choosing a mutual or equity fund structure in UCITS IV (Undertakings for Collective Investments in Transferable Securities) which according to prominent finance industry lawyers is ideally suited for a new generation of Shariah-compliant unit trusts, mutual funds and equity funds and products.
UCITS IV is a European Union initiative under the Lamfalussy Process. The European Parliament and the Council of the EU adopted the new European UCITS IV directive known as UCITS (DIR 2009/65/EC), on June 22, 2009. EU member States must transpose the directive into national legislation by July 1, 2011..............................................Full Article: Source
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