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UCITS III has had far reaching consequences for institutional investors as regulators and investment managers consider the broader issues in the field of best practice risk management.
UCITS requires a risk management process to monitor and measure risk positions and the overall portfolio risk profile. Where derivatives are used, daily risk monitoring will be required. The implications of UCITS III could well demand the acquisition of risk knowledge by pension fund trustees to allow them independently to monitor the risk profile of their portfolios. Peter Jeffreys explores the implications.
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