EU Fund regulation
The EU fund product landscape is deep, diverse and dynamic. Since the birth of the UCITS framework in 1985, European institutions have progressively refined it into a global “gold standard”, one that successfully balances strict regulatory requirements with the flexibility required by manager to meet evolving client demands. The successful evolution of UCITS was followed by the creation of alternative investment funds (AIFs) under the 2011 AIFM Directive, adding a second important pillar to EU fund/manager regulation. Building on this second pillar are further ambitious EU fund products, such as EUSEFs, EUVECAs and ELTIFs. EFAMA has helped guide all of these key regulatory developments, informing policymakers and regulators on their main merits and drawbacks, while also keeping a close eye on their respective review initiatives.
EFAMA strongly supports a fundamental review to the ELTIF regime, in view of broadening its eligible investment universe and adapting it to better meet retail investor needs. We are also closely monitoring the review of the AIFM Directive from a product regulation standpoint, including possible spillover effects on the UCITS Directive requirements. Further work involves keeping pace with relevant ESMA initiatives, such as the work around the Common Supervisory Action on costs and fees for UCITS.
Policy Recommendations for the Next European Commission
EFAMA responds to ESMA Consultation on Liquidity Stress Testing in UCITS and AIFs
EFAMA response to ESMA's CP on integrating sustainability risks & factors in the UCITS Direcive & AIFMD
International Statistics Q2 2020 | Solid growth of worldwide fund assets in second quarter as global financial markets post strong recovery
The European Fund and Asset Management Association (EFAMA), has today published its latest International Statistical Release describing the trends in worldwide investment fund industry in the second quarter of 2020*.
Worldwide regulated open-ended fund assets increased by 9.8 percent to EUR 51.7 trillion in the second quarter of 2020. Worldwide net cash flow to all funds amounted to EUR 818 billion, compared to EUR 617 billion in the first quarter of 2020.
European Statistics Q2 2020 | Investor confidence in Q2 results in sharp rebound in sales of UCITS
The European Fund and Asset Management Association (EFAMA) has today published its Quarterly Statistical Release describing the trends in the European investment fund industry in the second quarter of 2020 with key data and indicators for each EFAMA member countries.
Bernard Delbecque, Senior Director for Economics and Research at EFAMA commented:
Monthly Statistics June 2020 | Net sales of UCITS break the EUR 100 billion mark in June
The European Fund and Asset Management Association (EFAMA) has today published its latest monthly Investment Fund Industry Fact Sheet, which provides net sales data of UCITS and AIFs for June 2020.
Annual Review 2018-2019
I am pleased to provide you with an overview of our activities since our 2018 Annual General Meeting in Cyprus.
Credit where credit is due. I would like to congratulate my predecessor Peter De Proft for all the work in his twelve year tenure as EFAMA Director General and for the constructive support he has shown me from the start. This has greatly facilitated the handover.
Ownership of Investment Funds in Europe
The report provides a wealth of facts and figures on the evolution of holdings of financial assets and investment funds among European investors in recent years. It aims to answer three main questions: