Question

Are there any Brexit planning implications at portfolio level for Irish UCITS?

Answer

Brexit will mean that the United Kingdom (UK) will no longer be a member state of the EU. This may have implications for UCITS which have exposure to UK securities or counterparties. As part of its Brexit planning, the UCITS will need to consider compliance of those exposures with its investment restrictions.

As a separate issue, the UK may specifically need to be listed as an eligible market for investment in the markets list in UCITS prospectuses.