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.

EFAMA welcomes adoption by Council of its General Approach to AIFMD & UCITS Reviews

For immediate release, Brussels - EFAMA welcomes the adoption by Council of its general approach to the AIFMD and UCITS reviews today. We commend the swift progress made by the French Presidency in this regard and its thorough approach to the review.

Press Release

Photo of the European Parliament in Brussels with the EU flags flying

Capital Markets Union

UCITS

AIFMD

18 May 2022

EFAMA expresses strong support for the Draft report of MEP Isabel Benjumea on the Review of the AIFMD and UCITS Directive

Press Release

EFAMA Market Insights Yello Banner finger pointing at a virtual statistical chart

UCITS

Sustainable Finance

17 May 2022

Sustainable UCITS Bond Funds for a Better Future | Market Insights | Issue #9

EFAMA released today a new issue of its Market Insights series titled ‘Sustainable UCITS Bond Funds for a Better Future'. This report highlights the strong demand for UCITS bond funds that apply ESG strategies in their portfolio selection, confirming the growing interest of investors for ESG products. It analyses the investment characteristics of this type of funds and compares their performance and fees with those of traditional bond funds.

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