Even though Ucits IV, the latest update in a series of fund structures created to protect investors from slip-ups and frauds in the financial world, has not yet made its debut, asset servicing companies are already turning their attention to its successor, Ucits V.

The fourth in the Ucits series becomes part of European Union fund legislation in July, but there are parts of it on which many want clarity before the next edition is released in a couple of years' time.