UCITS | EFAMA

UCITS (Undertakings for Collective Investment in Transferable Securities) refers to the EU framework for harmonising the creation, management and marketing of collective investment schemes in the EU (and EEA) Member States. It places a strong focus on investors’ protection and product regulation. Owing to this harmonised framework, once UCITS funds are registered in one Member State, they can be freely marketed across the European Union. Initially adopted in 1985, the UCITS Directive has since been modified repeatedly, to take into account developments in financial markets.

EFAMA is adamant to protect the competitiveness and international appeal of UCITS.

Related policy positions

Policy Position

UCITS

09 August 2024

ESMA's call for Evidence on the Eligible Assets Directive

ESMA’s Call for Evidence on the UCITS Eligible Assets Directive is a welcome opportunity to take stock of the existing UCITS framework.

Policy Position

EU Fund regulation

UCITS

AIFMD

12 September 2022

High-level response to ESMA consultation on notifications for cross-border marketing and management of AIFs and UCITS

EFAMA welcomes the European Securities and Market Authority’s continuous commitment to creating a single market for investment funds, confirmed by the draft regulatory standards currently under consideration. These RTS/ITS would further harmonise information that asset managers should provide to their national competent authorities before marketing or managing an investment fund on a cross-border basis, thus facilitating intra-EU product distribution.

Policy position

EFAMA reply to ESMA CP on marketing communications guidelines

Capital Markets

MIFID

EU Fund regulation

UCITS

Management Companies

AIFMD

09 February 2021

EFAMA reply to ESMA CP on marketing communications guidelines

EFAMA believes that ESMA’s draft ‘marketing communication’ Guidelines still require important clarifications to ensure full alignment between them and MiFID II’s Commission Delegated Regulation Article 44. This alignment is essential to ensure coherent rules for fund management companies and distributors. Unfortunately, parts of the proposed Guidelines are overly prescriptive and may unintentionally make some marketing materials vaguer or even inconsistent with local MiFID requirements for distributors.

International statistics Q3 2020 | Global divergences in long term funds net sales in Q3 2020

The European Fund and Asset Management Association (EFAMA) has today published its latest quarterly international statistics, tracking and analysing trends in worldwide regulated open-ended fund assets and flows for Q3 2020.

Press Release

Competitiveness

EU Fund regulation

UCITS

Management Companies

AIFMD

Statistics

02 December 2020

European Statistics Q3 2020 | Net sales of long term funds remained robust in Q3 2020

The European Fund and Asset Management Association (EFAMA) has today published its Quarterly Statistical Release describing the trends in the European investment fund industry

Press Release

Competitiveness

EU Fund regulation

UCITS

Management Companies

AIFMD

Statistics

24 November 2020

Monthly Statistics September 2020 | Steady inflows into UCITS equity funds in September

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 September 2020*.

Bernard Delbecque, Senior Director for Economics and Research commented: Net inflows into UCITS equity funds remained steady in September despite concerns about rising Covid-19 infection rates and the potential impact of new lockdown measures.

The main developments in September 2020 can be summarised as follows:

all news

Related publications

Publication

EU Fund regulation

UCITS

Management Companies

AIFMD

Financial stability

22 January 2020

AMIC EFAMA Report - Managing fund liquidity risk in Europe - 2020

In 2019, AMIC and EFAMA decided to update their 2016 report “Managing Fund Liquidity Risk in Europe” following important policy and regulatory developments at EU and international levels. The purpose of this updated report is to outline the practical liquidity risk management processes which fund management companies put in place when setting up a fund and implement throughout the life of the fund. Also, the report describes the existing European and international regulatory frameworks in the area of fund liquidity risk management.

Publication