UCITS

Luxembourg’s long-form reform – how ready are you?

Origin of the reform At almost 20 years old, the current long form is no longer adapted to today’s fund landscape. Why? Some fund types were not in the scope of the requirement, so investment fund managers did not need to prepare a long form–even though they play an important role in the fund ecosystem. In addition, the long-form data was not in a format th […]

Spotlight on subscription tax: recent challenges and benefits

Let’s be honest, subscription tax in Luxembourg has never been center stage. Frankly, why would it? For most asset managers, it’s an administrative tax, handled back-office, with easy, straightforward rules. Subscription tax ) is calculated according to the type of fund vehicle and its rate varies between 0.01% and 0.05% with quarterly filings. No big deal. […]

Ready or not…PRIIPs KID implementation deadline for UCITS funds is coming soon!

On 3 February 2021, the European Supervisory Authorities (ESAs) submitted draft Regulatory Technical Standards (RTS) to the European Commission. These contained amendments to the key information document (KID) for packaged retail and insurance-based investment products (PRIIPs). Although some national competent authorities on EIOPA’s board expressed reserva […]
3

Brexit: understanding the transition period

On 31 January 2020, following the formal adoption of the withdrawal agreement, the UK officially left the European Union. Now begins the transition period outlined in the Brexit deal, which provides details on how the UK’s exit will unfold. For example, it states that no UK representative can participate in any EU institution, agency or body. It further declar […]
1

How performance fee requirements could change your business model

Performance Fees: how portfolio managers earn their money – or is there more to it? Aligning portfolio management and investor interests with fair reward is what most people associate with performance fees. However, this perception neglects the other major ways that performance fees can impact your business. As indicated in our previous blog post (“Per […]
3

Performance fees for the Fund industry: it’s decision time

Regulators and investors desire value-for-money Recent European regulations related to fees are delivering new requirements for the Fund industry. The regulators’ ultimate goal is to improve fee transparency and to reach a standardized cost-reporting framework. There’s been a lot of debates and discussions on this topic in the past few months, intensifyin […]