Global Custodian Summer 2018 | Page 22

[ N E W S A N A LY S I S | U C I T S ] UCITS 30 years on Much has changed in the funds industry since the introduction of UCITS 30 years ago. Charles Gubert takes a look at the next set of challenges facing UCITS funds. I n 1988, Bruce Willis donned his infamous white vest and battled it out with bloodthirsty terrorists in a high-rise Los Angeles skyscraper in “Die Hard”, while Sylvester Stallone put on his 22 Global Custodian Summer 2018 black vest for “Rambo III” and fought the Soviet army in Afghanistan. The music scene was somewhat tamer – at least in the UK – where Cliff Richard’s “Mistletoe and Wine” piqued Kylie Mingoue’s “Es- pecially for You” to become the Christmas number one hit. March 1988 was also a monumental data for the Luxembourg government, as it transposed the first ever UCITS Directive