Live performer hidden in ice registration#

Some ETF providers in Europe rely on the private placement regime while most use the passporting mechanism of the Ucits registration framework. In Europe, ETFs are authorised in their home country, listed on a primary exchange and then may be registered in other host countries and cross-listed on one or several other exchanges. Furthermore, the promoter needs to take into account that US-listed ETFs cannot be registered for sale in many markets, which places significant restrictions on where and to whom you can market or sell your products - if at all. Using a US-listed ETF or mutual fund often means two levels of withholding tax for European investors, once inside the fund and when payments are made from the fund.

The product's domicile is also an important criterion as it can mean differing tax and regulatory treatments for investors. The challenge for the promoter is to anticipate demand, decide if they should negotiate for an exclusive license on the index, and determine the optimal replication strategy. Once an investor knows the type of exposure they want to include in their portfolio, they will search to see which benchmark best represents their desired target and then search for and review products which can be used to implement the exposure. With more investors entering the market and the number of investment strategies increasing, ETF providers are becoming more attuned to the needs of their clients and have been adjusting their offerings to win new assets and trading volumes.Ī key differentiating factor is the ETF's benchmark.

It is also important how the product is promoted locally based on registrations, cross listings, local language websites and brochures, and locally based sales people as opposed to relying on only private placement exemptions to try to sell one product set regionally or globally.

Live performer hidden in ice