ABN Amro moves to tap demand for Ucits III compliance in UK

Dutch bank ABN Amro has set up an undertakings for collective investments in transferable securities (Ucits) III-compliant umbrella fund in the UK. The bank's Proteus Defined Funds, domiciled in the UK, are Ucits III-compliant funds designed for private banks, stockbrokers, wealth managers and independent financial advisers (IFAs).

In order to help it exploit the growing Ucits III-compliant funds market in the UK, ABN Amro has hired Mike Egerton and Jonathan Kent from Dresdner Kleinwort and

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