Financial Services Regulation and Compliance - Funds Apr 2021

DOMESTIC

CBI Guidance on Performance Fees of UCITS and certain types of Retail Investor AIFs

The CBI published Guidance on Performance Fees of UCITS and certain types of Retail Investor AIFs. It also published the Feedback Statement to CP 134 on the topic.

CBI updates Q&A on AIFMD

The CBI published the 38^th edition of its AIFMD Q&A. It contains new Q&As on raising capital from investors by way of a shareholder / unitholder loan and whether an authorised AIF can enter into transactions with its investors.

EU & INTERNATIONAL

ESMA updates UCITS and AIFMD Q&As for its performance fee guidelines

ESMA updated its Q&A documents on the application of the UCITS Directive and on the application of the AIFMD. New Q&As provide clarification on the crystallisation of performance fees, on the timeline of the application of the performance reference period and the application of its guidelines on performance fees to European Long-Term Investment Funds (ELTIFs)

ESMA's third annual statistical report on the cost and performance of EU retail investment products

​ESMA published its third annual statistical report on the cost and performance of EU retail investment products (to end 2019).

ESMAs third annual statistical report on the AIF sector

ESMA issued its third annual statistical report on the AIF sector (to end 2019).

For more information on these topics please contact any member of A&L Goodbody's Asset Management & Investment Funds team.

Date published: 7 May 2021