The report found many funds managers outside the EU have not yet registered under the UCITS regime. The most common reasons fund manager cite for not registering included:
• Lack of familiarity with UCITS.
• Deliberate focus on their domes tic markets, which are perceived as more profitable.
• Difficultly in finding alliance partners.
• Perception of onerous regulation both inside and outside Europe.
• Difficulty making contacts in diverse linguistic and cultural settings.
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