Monday March 29 2021

News Source: Fund Regulation

Focus: UCITS

Type: General

Country: Luxembourg




The Commission de Surveillance du Secteur Financier (CSSF) has published a new Excel form to be included within the approval process of a new sub-fund (or UCI) and AIFM confirmation letter on performance fees – stand-alone AIF.

New Excel Form

This form collects information on the performance fee model and its components. This new survey is linked with the CSSF compliance with the ESMA Guidelines on performance fees in UCITS and certain types of AIFs applicable since January 5, 2021.

The questionnaire aims at providing the CSSF with information about compliance with ESMA Guidelines on performance fees (ESMA34-39-992).

Excel Form Link

AIFM Confirmation Letter

The CSSF has published the AIFM confirmation letter relating to compliance with disclosure requirements under the ESMA Guidelines on performance fees in UCITS and certain types of AIFs (ESMA34-39-992).

This form is published to ensure that the AIFM has implemented and maintains adequate process(es) in order to demonstrate and periodically review that the employed performance fee model:

  • is consistent with the Fund’s investment objectives, strategy and policy;
  • is suitable for the Fund given its investment policy, strategy and objective;
  • is designed to ensure that the AIFM is not incentivised to take excessive risks;
  • constitutes a reasonable incentive for the AIFM and is aligned with investors’ interests.

AIFM Letter Link

Click on the link for further information.