CSSF orders funds to report large redemptions
For a second time in two years, investment fund managers have been ordered to directly report significant redemptions as the CSSF, the Grand Duchy’s financial supervisor, stepped up its monitoring of the impact from the war in Ukraine and the international sanctions against Russia.
Regulators to examine investment fund valuation
Top-level European securities markets regulator ESMA (European Securities and Markets Authority) has announced it will be examining the valuation of UCITS and open-ended alternative investment funds (AIFs) across the EU.
Green light for PRIIPs KID
Goodbye to the UCITS KIID and hello to the PRIIPs KID for UCITS and retail AIFs. The European Parliament approved on Tuesday the legislation introducing the Packaged Retail Investment and Insurance-based Products Key Information Document (PRIIPs KID.
EFAMA: ESG funds remain the trend in ‘resilient’ Europe
Despite the huge cost in terms of human lives and economic damage of the corona crisis, European Fund and Asset Management Association (EFAMA) summarises the performance of the European fund industry as ‘resilient’.
This was reflected in the Brussels-based organisation’s 2021 Factbook, published this month. It outlines the most important European trends currently affecting the fund industry.
AIFMD & UCITS reform cloaked in Brexit fog
On-going high-level talk about reform of AIFMD and UCITS is generating nervousness in the European asset management industry. Was the 18 August letter on this topic from ESMA to the European Commission really about seeking to promote efficiency, or is it more a post-Brexit reckoning that could upset current successful arrangements?
Liquidity holds up in Luxembourg funds
Liquidity in Luxembourg’s funds is a key concern for the CSSF, Luxembourg’s financial regulator. With all asset class crashing over the last month, investors have had no easy safe-haven options, and many have sought to sell up and hold cash. However, to date, this stress appears not to have led to the suspension of any Lux fund.