#Fees The U.S. Securities and Exchange Commission and Luxembourg financial supervisor Commission de Surveillance du Secteur Financier (CSSF) have jointly voiced significant concerns about “increasingly complicated #fee structures” in the #fundindustry, warning that these practices may be obscuring the true costs for investors. For #InvestmentOfficer from New York, Max Severijns reports from the ALFI - Association of the Luxembourg Fund Industry road show in the U.S.: https://lnkd.in/e-TfCqDV Addressing an audience of American lawyers and investment managers at the conference, Robert Shapiro, assistant director of the SEC’s #investmentmanagement division, said fund managers on both sides of the Atlantic are earning fees at multiple levels from their products or their funds, sometimes concealing the rationale behind them. The supervisors‘ concern applies mostly to the management of alternative investment funds, used widely for private equity, debt and real asset investments. #Luxembourg is home to more than 14,000 of such funds that are held by investors worldwide.
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Last week, the Canadian Securities Administrators (CSA) announced proposals to modernize the continuous disclosure regime for investment funds. The changes aim to make investor information more useful while reducing the regulatory burden on fund managers. A key change is the introduction of a new Fund Report that was developed using behavioural insights and tested with investors. This report is designed to be easier to read and more helpful in decision-making. The CSA is also proposing exemptions from certain conflict of interest reporting requirements and eliminating some disclosures not required by International Financial Reporting Standards. The CSA is encouraging stakeholders to review and comment by January 17, 2025. For more information, read the news release: https://ow.ly/oUlT50Twewo
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📢 New CSSF valuation guidelines on the horizon for Luxembourg fund managers Luxembourg’s financial supervisor, the Commission de Surveillance du Secteur Financier (CSSF), has revealed plans to revise its valuation guidelines for investment fund managers, with changes set to be formalised in 2025. In a speech on Wednesday by Jean-François Carpantier, head of the UCI Risk Macro division, at a Luxembourg Valuation Professionals Association (LVPA), eight key areas of enhancement were outlined, aiming to address persistent issues and strengthen transparency and resilience in the face of evolving market conditions. Key updates will include: - Alignment with AIFMD principles - Stricter governance on valuation models - Increased transparency for investors - Stress scenario planning and independence of functions “Robust valuation processes are essential for maintaining the integrity and resilience of Luxembourg’s investment fund ecosystem,” Carpantier told an audience of valuation experts. “This revision will provide clearer guidance to help fund managers enhance their valuation frameworks in the face of evolving market conditions and economic uncertainties.” With #Luxembourg being a global hub for #privatemarkets, these revisions are set to impact over 14,000 #alternativefunds, especially as digitalisation and AI reshape valuation practices. Fund managers are encouraged to review their frameworks in anticipation of these upcoming changes. Full story on Investment Officer Luxembourg: https://lnkd.in/gwYrM-2k #Valuation #CSSF #AIFs #InvestmentFunds #FundManagers #AIFMD #Finance #Digitalisation #AI #Resilience
CSSF flags 2025 upgrade of valuation practices in Luxembourg
investmentofficer.lu
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𝗞𝗲𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗡𝗲𝘄𝘀 𝗘𝘃𝗲𝗻𝘁𝘀 𝘁𝗼 𝗠𝗼𝗻𝗶𝘁𝗼𝗿 𝗼𝗻 𝟭𝟳 - 𝟮𝟭 𝗝𝘂𝗻𝗲 𝟮𝟬𝟮𝟰 ➡️ Bookmark this post to ensure you have it handy. 🔔 Stay vigilant and stay informed about the upcoming events in June that have the potential to greatly impact the markets. ❗ Please note that all times mentioned are in GMT+8. *Experience trading your preferred financial instruments with a top-tier brokerage firm. Don't miss out: https://bit.ly/44SYzIT Not financial advice. Investment involves risk. https://lnkd.in/gFGNJqn8 https://lnkd.in/gdUSJsD7 Source: Investing #AnzoCapitalGlobal #AnzoCapital #EconomicCalendar #CPI #InterestRate #MonetaryPolicy
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In the latest edition of our International Funds Net Country Updates Series, we highlight the most recent regulatory changes across the globe that fund managers need to be aware of. Read now: https://lnkd.in/gZVjcNHv #InvestmentFunds #FinancialServices
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In the latest edition of our International Funds Net Country Updates Series, we highlight the most recent regulatory changes across the globe that fund managers need to be aware of. Read now: https://lnkd.in/eK4-aWXP #InvestmentFunds #FinancialServices
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In the latest edition of our International Funds Net Country Updates Series, we highlight the most recent regulatory changes across the globe that fund managers need to be aware of. Read now: https://lnkd.in/eirKgDd3 #InvestmentFunds #FinancialServices
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With the SEC oversight rules overturned, is there an alternative to rigid regulatory mandates in the private funds market? We can look to recent history for the answer: In the wake of the Global Financial Crisis in 2008, the UK alternatives industry was placed under pressure to regulate hedge funds in line with mutual funds regulation. In response, investment bodies embarked on an industry initiative to codify best practice standards, in place of the regulator codifying prescriptive industry rules. Could the private markets take a similar tack to lead industry reform? In a new article for Private Funds CFO, Bernardus Buys, a private markets expert working with Factor on Primary and Secondary Market solutions, argues that market participants can set out to reach a consensus on what conduct best solves the real industry needs. Read the article here: https://lnkd.in/e6KRSKwr
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The European Securities and Markets Authority (ESMA) has published final guidelines on the use of #ESG-related terms in #fund names, which follow the approach taken in their December 2024 public statement. In this briefing, we discuss the key requirements, scope, and applicability of the guidelines, and what fund managers need to do to comply. Read now: https://lnkd.in/eK55navF #FinancialServices
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Save time, read our AIF Quarterly Update Q4 2023
🚨 Alternative Investment Funds Industry Update – Q4 2023 This Quarterly Update, covering Q4 2023, contains the latest news and updates on inter alia the last update on #SFDR interpretation, in particular the importance of the investment fund’s name to avoid any investors’ misleading as well as the ALFI comments on #MiCAR implementation. Other topics include the European legislator's growing interest in regulating the retail investor protection and the vulnerabilities from liquidity mismatch in open-ended funds. You will also read about the #tax hot topics from the #Netherlands and Luxembourg. 👉 Don’t miss out the 5 Questions to Tjebco de Jong and Ali Gündüz, respectively managing director and commercial director at Trustmoore. ➡ Read the Alternative Investment Funds Industry Update here: https://lnkd.in/emvAqHjq 📧 To receive directly our Quarterly Update in your mailbox, subscribe to our newsletter (click on "investment management") here: https://lnkd.in/em8yYbr6 #AKD #Benelux #QuarterlyUpdate #Funds #AIF #AIFMD #LuxembourgFundsIndustry #Tax
Alternative Investment Funds Industry Quarterly Update Q4 2023
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Macro-economics and boutique managers
5moYou mean like custodian banks asking kick backs from fund managers because they "distribute" the fund?