UCITS Marketing Passport is one of the most distinguished features of a UCITS, which makes it a very powerful tool to raise capital. Whilst it is only a mere misconception that UCITS funds can be sold per se across Europe, for the sole reason of being established and subject to supervision there, the UCITS Marketing Passport is what enables cross-border fund distribution in Europe and is a consolidated and streamlined process, which makes for a swift access to market.

The UCITS brand is very strong and has been associated overtime to a growing history of success in Europe and beyond. Designed with the retail investor in mind, it quickly acquired popularity especially amongst institutional investors all over the world.

Directive 2009/65/EC (UCITS IV) introduced an electronic, regulator vs. regulator procedure for UCITS Marketing Passport. Within 10 working days from submission of a complete application to the respective Home State regulator, marketing of UCITS funds can commence in the Host State of choice. Whilst the cross-border process for passporting UCITS funds was improved, there is still no uniform definition of marketing at European level. Accordingly, because the marketing is regulated at local level, Host States are at liberty of gold-plating the process and impose compliance with additional elements required in order to grant marketing passport to UCITS funds in a specific country. One of the most common requirements is the appointment of a local Paying Agent for UCITS.

UK Facilities Agent Service

From its Mayfair offices in London, Veneziano & Partners offers UK Facilities Agent Services for fund managers willing to distribute their funds in United Kingdom. This service allows managers to discharge the obligations imposed by COLL 9.4 of the FCA Handbook, requiring that foreign managers maintain an address and facilities for investors in the United Kingdom when passporting UCITS funds for marketing in United Kingdom.

Veneziano & Partners is a veteran of the process of UCITS fund passporting and can efficiently prepare and arrange submission of applications, liaise with regulatory authorities until approval and on ongoing basis thereafter