When the idea of creating a fund product in one jurisdiction and exporting it to multiple countries through passporting arrangements was mooted, the same year Whitney Houston debuted her first solo single, “You Give Good love.” That was in 1985.
In both instances, all launches became massive hits. Whitney went on to become “the Prom Queen of Soul” and Undertakings for Collective in Transferable Securities (UCITS) became a respectable brand for “cross-border” investments comprising 75 percent of all European Union smallholder investments in over 30,000 UCIT funds overseeing over Sh1.2 quadrillion.
