The European Fund and Asset Management Association (EFAMA) has today published its latest monthly Investment Fund Industry Fact Sheet, which provides net sales data of UCITS and AIFs for February 2020*.
The European Fund and Asset Management Association (EFAMA) has today published its latest monthly Investment Fund Industry Fact Sheet, which provides net sales data of UCITS and AIFs for February 2020*.
EFAMA in collaboration with SWIFT, has published a new report on the evolution of automation and standardisation rates of fund orders received by transfer agents (TAs) in the cross-border fund centres of Luxembourg and Ireland - during the first half of 2019.
The report highlights the progress made towards the increased automation of the amount of fund orders, and the use of ISO standards. Twenty-eight TAs from Ireland and Luxembourg participated in this survey.
The key findings of the report include:
EFAMA welcomes the recent statement by Ashley Alder, IOSCO Board Chair, on liquidity risk management for investment funds.
EFAMA recently finalised a Comment Paper in response to the ECBs November 2018 findings around liquidity and counterparty risks in ETFs, included in the ECBs semi-annual Financial Stability Review.
We welcome yesterday's vote by the European Parliament plenary, formally adopting the trilogue agreement on the Commission's initiative to remove cross-border barriers to the distribution of investment funds.
This marks a decisive recognition of the need to postpone the application of the PRIIPs disclosure regime for UCITS by two years, in light of the regime's documented shortcomings. It also allows the European Commission more time to conduct a thorough review of the same within one year.
The Committees vote confirmed important amendments to the Commissions original proposal, i.e. extending the premarketing definition to established EU AIFs and removing the numerical thresholds conditioning the de-notification of funds from host jurisdictions.
EFAMA has responded to the European Supervisory Authorities' (ESAs) joint consultation setting out various regulatory technical standards (RTS) for the Sustainable Finance Disclosure Regulation (SFDR). They propose new sustainability indicators in relation to principle adverse impacts (PAIs) and additional disclosures to the ‘do no significant harm’ principle, as well as some other modifications.
EU asset managers, banks and brokers are today urging policy makers not to concede to pressure which will lead to suboptimal outcomes in the review of the Markets in Financial Instruments Directive (MiFID/R).
EFAMA offers a detailed view on the active accounts proposal in this paper. Costs to the end investor are broken down into two main buckets i) operational build-out and ii) in nominal terms the much larger impact of loss of netting efficiencies. Potential impacts on financial stability are also examined, with a focus on the widening basis which will result from large volumes of one-directional flows onto an EU-CCP. The impact on margins and procyclicality are also studied. The analysis points to increased liquidity risk for
EFAMA believes that IORPs should be able to invest in financial instruments traded in all third country markets where the latter meet certain conditions, regardless of the adoption of an equivalence decision by the Commission (...).
EFAMA welcomes the opportunity to respond to the European Commission’s Call for Evidence on the ‘Review of the scope and third-country regime of the Benchmark Regulation.’
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Trends in European investment funds (EFAMA Fact Book 2024 release on 18 JUN 2024)