ESMA guidelines on performance fees in UCITS and certain types of AIFs
The European Securities and Markets Authority (ESMA) has published guidelines on performance fees in UCITS and certain types of AIFs which aim to harmonise EU supervisory practices. While generally aligned with current Central Bank of Ireland (CBI) requirements for UCITS, the guidelines are more detailed. Existing UCITS with performance fees will need to analyse whether adjustments will be necessary to comply with the guidelines. In-scope AIFs with performance fees will also need to look at the requirements.
Our Asset Management & Investment Funds team look at the guidelines in detail including who they apply to, when they are effective from, the key considerations for managers and a comparison with the CBI's current position on UCITS and AIF performance fees.
As part of our Soundbite Series, listen to a five minute overview of the key aspects of the new guidelines from Michael Barr, Partner.
For more detailed information on the guidance you can download our publication from the link below.
Feel free to contact Michael Barr, Partner, Ann Shiels, Associate, Nollaig Greene, Knowledge Lawyer or a member of the Asset Management & Investment Funds team if you would like further information.
Date published: 6 May 2020