Regulatory: Framework on Valuation UCITS and Open-ended AIFs

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European Securities and Markets Authority launches framework on valuation of UCITS and open-ended AIFs

20 January 2022

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, is launching a Common Supervisory Action (CSA) with National Competent Authorities (NCAs) on the valuation of UCITS and open-ended Alternative Investment Funds (AIFs) across the EU.

The CSA aims to assess compliance of supervised entities with the relevant valuation-related provisions in the UCITS and AIFMD frameworks, in particular the valuation of less liquid assets, and will be conducted throughout 2022.

Scope applicable to authorised managers

UCITS

Open-ended AIF investing in less liquid assets such as:

· unlisted equities,

· unrated bonds,

· corporate debt,

· real estate,

· high yield bonds,

· emerging markets,

· listed equities that are not actively traded, bank loans.

European Securities and Markets Authority launches framework on valuation of UCITS and open-ended AIFs

Global Compliance

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