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European Fund and Asset Management Association: Potential Impact of the new version of the FTT on the UCITS Industry

( March 14, 2013, 11:51 GMT | Official Statement) -- MLex Summary:  The profitability of investing in Ucits as long-term saving resources would be significantly hit by the proposed Financial Transaction Tax, which could cost such funds as much as 9 billion euros per year in portfolio transaction levies and 4 billion euros in share-redemption levies, the European Fund and Asset Management Association warned. The organization said long-term financing for the EU economy may be hindered as investors would move to savings deposits and life insurance products.The text of the statement follows. Click on the attachment below for the full document....

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