Regulators on both sides of the Atlantic are tightening liquidity rules for investment funds with the primary focus on whether or not fund portfolios can keep their promise of daily liquidity to their fund investors at all times. We have … Continue reading Top Down, Bottom Up: The Topsy-Turvy World of Fund Liquidity
Regulatory scrutiny of mutual fund liquidity has been an ongoing area of focus for several years now. Regulators have already put exchange traded funds (ETFs) and money market funds (MMFs) under their microscope, but they are now intensifying that scrutiny … Continue reading New ESMA Fund Stress Tests Aim to Soothe Investor Liquidity Concerns
Renowned US economist Milton Friedman once famously declared that public companies exist solely to serve their shareholders. Last week, Friedman may have been rolling in his grave. The CEOs of the 192 largest public corporations in the US delivered a … Continue reading Short-Termism: Regulators Assess Investment Horizons
Assets invested in UCITS funds hit a record high in June of this year, pushing past the €10 trillion mark across more than 90 countries. Despite their continued growth, UCITS have faced several regulatory headwinds including scrutiny on liquidity issues, … Continue reading ESMA Performance Fee Review: Recalibration of UCITS’ Well-Oiled Machine
ESMA’s Shareholder Rights Directive II (SRD II) may be the most impactful regulatory change you haven’t yet heard about this year. Don’t call it The King, but when SRD II goes live in 2020, it will impact holdings in more … Continue reading Elvis Has Left the Building: The Rock and Roll of the Shareholder Rights Directive II
ESMA recently published its findings after inspecting UCITS Efficient Portfolio Management and the report is likely to trigger higher standards of oversight and governance of UCITS EPM programs. Here’s what asset managers need to know. Continue reading ESMA Tightens the Reigns on UCITS Efficient Portfolio Management Oversight