Fund managers will receive half of their bonuses in units of the funds they manage and will receive 40% of their bonus three years after allocation when European rules take effect in 2016.

The rules are part of Ucits V, the latest iteration of the Ucits directive negotiated between the 28 EU member states, which also include a caveat that up to 60% of bonuses could be withheld for the three-year period in instances where they are exceptionally high.