EU Fund regulation
The EU fund product landscape is deep, diverse and dynamic. Since the birth of the UCITS framework in 1985, European institutions have progressively refined it into a global “gold standard”, one that successfully balances strict regulatory requirements with the flexibility required by manager to meet evolving client demands. The successful evolution of UCITS was followed by the creation of alternative investment funds (AIFs) under the 2011 AIFM Directive, adding a second important pillar to EU fund/manager regulation. Building on this second pillar are further ambitious EU fund products, such as EUSEFs, EUVECAs and ELTIFs. EFAMA has helped guide all of these key regulatory developments, informing policymakers and regulators on their main merits and drawbacks, while also keeping a close eye on their respective review initiatives.
EFAMA strongly supports a fundamental review to the ELTIF regime, in view of broadening its eligible investment universe and adapting it to better meet retail investor needs. We are also closely monitoring the review of the AIFM Directive from a product regulation standpoint, including possible spillover effects on the UCITS Directive requirements. Further work involves keeping pace with relevant ESMA initiatives, such as the work around the Common Supervisory Action on costs and fees for UCITS.
Joint letter on use of UCITS KIIDS for MOPS
EFAMA Response to the EBA Consultation on draft Guidelines on outsourcing arrangements
EFAMA Response to the IOSCO Consultation on CIS Liquidity Risk Management Recommendations (CR04/2017)
European Statistics Q1 2021 | European Investment Fund Industry 2021 Trends - Equity funds reach all-time high
EFAMA has today published its Investment Fund Industry Fact Sheet for the first quarter of 2021, including information on owners of investment funds in Europe and their net purchases of funds during the fourth quarter of 2020.
The main developments through the quarter are as follows:
Pre-order your copy of the 2021 Fact Book!
EFAMA’s 2021 Fact Book, “Trends in European Investment Funds”, will be published at the end of June.
As in previous years, this year’s Fact Book provides an extensive analysis of key developments in the investment fund industry, inside and outside Europe.
Monthly Statistics February 2021| Demand for long-term UCITS remained strong in February
The European Fund and Asset Management Association (EFAMA) has today published its latest monthly Investment Fund Industry Fact Sheet, which provides data on UCITS and AIFs sold in February 2021, at European level and by country of fund domiciliation.
Fund Fees in Europe: TER Report
A report commissioned by the European Fund and Asset Management Association published on 4 October 2011 aims to give investors greater transparency and understanding of cost breakdown within the Total Expense Ratio ("TER") of European mutual funds.