What You Need to Know about UCITS Marketing in Italy With assets under management easily exceeding a trillion Euros, nearly half of which accounted for by the fund industry, Italy remains one of the most attractive markets for EU fund distribution. However, not an easy one especially for foreign asset managers. A very conservative local…
UCITS KIID PRIIPs KID Transition. Is that Ever Going to Happen? There are few reasons why UCITS managers are concerned with PRIIPs. The first and most apparent one is that the definition of PRIIPs encompasses both packaged retail investment products and insurance-based investment products, with UCITS falling under the first category. The second reason, more…
Investment Funds Cross Border Distribution in 2021 The European landscape for investment funds Cross Border Distribution is set for a small revolution in 2021. Following the adoption in mid-2019 of both a new directive and a regulation, part of a broader endeavour of the European Commission on the Capital Markets Union, the time has now…
Add Sub-funds in the UK Temporary Permission Regime So, you are most likely one of the wise fund managers or promoters to have had your UCITS authorised for marketing in the UK under the European passport regime, just on time before the end of the transition period. You also most likely were able to carry…
Luxembourg Fund Distribution Post Brexit. All You Need to Know Now The CSSF recently issued a press release to reinstate and clarify the steps required for Luxembourg Fund Distribution post Brexit in light of the looming deadline of 31 December 2020 and the end of the transition period in the UK. The press release from…
The Spirit of AIFMD Premarketing After nearly ten years since its adoption, it is now common knowledge that the AIFMD irreversibly changed the European landscape for managing alternative investment funds. What is less known about the AIFMD though, is that it also contributed to define at European level the concept and dynamics of marketing investment…
ESG Disclosure in UCITS KIIDs The Disclosure Regulation is considered by many a strategic regulation with long lasting effects for the fund management industry. Since its introduction, a great deal of attention has been paid to the implications of ESG Disclosures on the operations of fund managers, including a recent lengthy debate on the lack…
Phasing Out the AIFMD National Private Placement Regime? Since its introduction in 2011, the AIFMD National Private Placement Regime has provided an avenue for European investors to access alternative investment strategies hosted and managed outside of Europe. Whilst this regime is mainly and essentially a local law affair – and has its limitations, both objective…
Good Governance. Keeping the Board Informed About UCITS Cross-Border EU Registrations In the EU domiciles with the most evolved fund governance standards, the board of directors of UCITS management companies plays a pivotal role with regards to UCITS Cross-border EU registrations. The board of directors, in fact, will have a say ex-ante on distribution, to…
Mind the Gap. UK Facilities Agent Services and TPR Notification The UK is today still fictitiously part of the EU during what is defined, in Brexit jargon, Transition Period. With no hopes for the Transition Period to be extended beyond the original 31st December 2020 deadline, fund managers have still the choice to use the…