ESMA’s Call for Evidence on the UCITS Eligible Assets Directive is a welcome opportunity to take stock of the existing UCITS framework.
Since its inception 40 years ago, the UCITS label has garnered a global reputation as a secure, well-diversified, liquid and transparency collective investment vehicle. The central focus of ESMA’s review should be on maintaining the credibility and recognition of the UCITS label, by avoiding a full-fledged review of the eligible assets regime. Instead, we believe that targeted ESMA guidance could successfully ensure a more harmonised interpretation of the existing rules.
