These types of set-ups are not allowed under the European guidelines,Undertakings for Collective Investment in Transferable Securities (UCITS),so the investor should look for UCITS III-compliant funds.
* Европейские ETF обычно выпускаются на базе Директивы о коллективных инвестициях - UCITS (Undertakings for Collective Investment in Transferable Securities).