On 31 July 2024, the FCA published a new webpage “Apply to be UK UCITS Man Co”.

The webpage provides information for firms that wish to become a management company of a UK UCITS, what permissions they will need and how much they will pay.

Among other things the webpage reminds firms that:

  • They will only be eligible to apply for the permission of managing a UK UCITS if they will be managing a fund established in the UK that is either an investment company with variable capital, an authorised unit trust or an authorised contractual scheme, which are all types of authorised fund. 
  • If they are intending to apply for permission of managing a UK UCITS, before making an application they should request a meeting through the FCA’s Pre-Application Support Service.
  • If they are intending to manage a non-UK UCITS, they should read the FCA’s webpages on Alternative Investment Fund Managers or Investment Managers depending on the intended business model.