Insights

Funds Bulletin

January 2015

The Deloitte Funds Bulletin delivers you our latest updates and insights on industry developments. We hope you find this edition useful and please contact us if you have any queries.

ESMA’s revised “Questions and Answers on Application of the AIFMD”

On 9 January 2015, ESMA issued an updated version of its “Questions and Answers on Application of the AIFMD”. They include new Questions and Answers in ‘Section III: Reporting to national competent authorities under Articles 3, 24 and 42’ of AIFMD. The questions relate to subscriptions and redemptions over the reporting period, the change in NAV and investment returns per month, and finally when AIFMs should report aggregated information. 

Central Bank of Ireland issues an updated “AIFMD - Questions and Answers”

On the 23 January 2015 the Central Bank of Ireland issued an updated version of its document “AIFMD - Questions and Answers”. They relate to delegation (question ID1085), transitional arrangements (ID1086-ID1087) and disclosure (ID1088). 

Loan Funds: Europe’s alternative source of business funding

The financial crisis caused liquidity problems for banks globally, with a knock-on reduction in access to capital for businesses. To address this challenge, regulators in Europe are introducing alternative sources of financing, and in particular, are implementing measures to allow investment funds to issue loans to businesses. 

Revised Q&A on ESMA’s guidelines on ETFs and other UCITS issues

On 9 January 2015, ESMA issued an updated version of its “Questions and Answers on ESMA’s guidelines on ETFs and other UCITS issues”. 

ESMA’s Discussion Paper on Share Classes of UCITS

On 23 December 2014, ESMA published a “Discussion Paper on Share Classes of UCITS”. The UCITS Directive recognises that UCITS can offer different share classes to investors but it does not outline how share classes within a UCITS fund can differ from each other. As the permitted range and type of share classes within UCITS varies from country to country, ESMA wishes to implement a common understanding across the EU. 

New! Link'n Learn webinar series 2015

Led by Deloitte’s industry experts, Link’n Learn is a series of free of charge webinars conducted during the course of the year, specifically designed to keep you up-to-date with today’s critical trends and the latest regulations impacting your business. An hour of your time is all you need to log on and tune in to each informative webinar.

Download our new 2015 schedule and view the latest webinars from the series. 

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