Fund Distribution Alert 2021-04

Fund Distribution Alert 2021-04

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Said Fihri

Partner, ADV – Investment Services

KPMG in Luxembourg

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The AMF applies ESMA performance fee standard for UCITS and certain AIFs

Further to the publication by ESMA of the guidelines on performance fees for UCITS funds and certain AIFs, the Autorité des marchés financiers (AMF) published a position DOC-2021-01 (only available in French) on 05 January 2021. This position aims at establishing a common European performance fee model according to the ESMA Guidelines.

Please be reminded that the guidelines apply to UCITS funds and certain AIFs as follows:   

  • Managers of any new funds created after the date the guidelines went into effect, with a performance fee, or any funds existing before this date that introduce a performance fee for the first time after that date, should comply with these guidelines immediately in respect to those funds.
  • Managers of funds with a performance fee existing before these guidelines went into effect should apply these guidelines in respect to those funds by the beginning of the financial year, following six months from when the guidelines were integrated.

Please refer to the KPMG Newsletter “ESMA released performance fee guidelines for UCITS and certain AIFs” for the main impacts.

The AMF Communication is available here (only available in French).

Please feel free to contact us should you require any additional information.

Please note that any information provided is general in nature, is based on the latest publicly available information as analyzed on a best endeavor basis and does not constitute any specific legal opinion or advice.

Contact

Said Fihri
Partner
+352 22 51 51 7892
said.fihri@kpmg.lu


Stephanie Zedda
Director
+352 22 51 51 7271
stephanie.zedda@kpmg.lu

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