A primary aim of the regulatory amendments included in UCITS IV was to facilitate the creation of more efficient structures within the UCITS framework.

The three key aspects of UCITS IV designed to assist in achieving this result are the new management company passport, provisions permitting the creation of master-feeder structures and the terms specifically enabling cross border fund mergers.  

Introduction

Prior to 25 March 2011, there was no judicial decision in Ireland on whether the holder of a floating charge could validly improve its position in the order of priority of payments, vis-à-vis preferential creditors, in circumstances where its floating charge crystallises (i.e. converts into a fixed charge) prior to commencement of the winding up of a company.