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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
06/09/2018 ESMA71-99-1027 Press release- Volatility spikes underline fragilities and risks to EU securities markets and investors , Press Release PDF
237.66 KB
06/09/2018 ESMA 50-165-633 ESMA Risk Dashboard No. 3 2018 Report PDF
931.94 KB
06/09/2018 ESMA 50-165-632 ESMA report on trends, risks and vulnerabilities 2, 2018 Report PDF
3.7 MB
21/08/2018 ESMA02-91-1957 Audit Opinion on ESMA Final Accounts Financial Year 2017 , Reference PDF
937.4 KB
19/06/2018 ESMA20-95-916 Annual Report 2017 , , Annual Report PDF
10.77 MB
06/06/2018 ESMA50-165-584 ESMA Risk Dashboard No. 2 2018 Report PDF
933.6 KB
01/06/2018 ESMA50-162-215 Product Intervention Analysis CFDs , Report PDF
1.26 MB
01/06/2018 ESMA50-162-214 Product Intervention Analysis Binary Options , Report PDF
776.15 KB
23/05/2018 ESMA71-99-979 ESMA appoints new chair to its Committee of Economic and Markets’ Analysis , Statement PDF
209.05 KB
18/05/2018 ESMA50-157-956 CEMA Terms of Reference Reference PDF
194.67 KB
26/04/2018 ESMA63-43-964 ESMA Budget Amendment n.1 for 2017 , , Reference PDF
204.31 KB
20/03/2018 ESMA71-99-957 Press release: High risks persist for European securities markets and investors, ESMA says Report PDF
166.64 KB
20/03/2018 ESMA50-165-539 ESMA risk dasbhboard 1, 2018 Report PDF
903.76 KB
20/03/2018 ESMA50-165-538 ESMA report on trends, risks and vulnerabilities 1, 2018 Report PDF
3.24 MB
09/02/2018 ESMA20-95-839 Risk Assessment Work Programme 2018 Report PDF
452.74 KB
07/02/2018 ESMA20-95-823 2018 Regulatory Work Programme , , , Reference PDF
251.91 KB
19/01/2018 ESMA63-43-874 ESMA Budget 2018 , , Reference PDF
194.52 KB
05/12/2017 ESMA50-165-498 ESMA Risk Dashboard No 4 2017 Report PDF
976.96 KB
06/11/2017 ESMA50-165-422 The impact of charges on mutual fund returns- correction , , Reference PDF
590.09 KB

ERRATUM - In the original version of this document published on 19 October 2017 in table V.3 on page 4, the values in the last four rows of column five were accidentally misreported. For this reason, ESMA now provides a corrected version, including the corrected values and a footnote pointing to the initial mistake.

ESMA carried out a first analysis on fund performance measures, developing initial metrics to analyse the impact of ongoing fees, one-off charges and inflation on the returns of mutual funds. Key preliminary results for the EU fund industry show: Substantial reduction in net returns available to investors, especially in the retail sector and weakly cost- or price-sensitive investment decisions by retail investors

On average ongoing fees and one-off charges and inflation-reduced returns available to investors by 29% of gross returns between 2013 and 2015. These reductions apply to all market segments, while varying across jurisdictions, asset classes and client types. Relative return reductions range from 11% for passive equity fund shares to 44% for retail fund shares in bond mutual funds. Relative and absolute return reductions for actively managed and retail fund shares tend to exceed those of passively managed and institutional fund shares. Despite the impact of fees and charges on the net outcome to investors, these do not seem to be reflected in investor choices.

06/11/2017 ESMA50-165-416 Report on Trends, Risks and Vulnerabilities No.2 2017- correction Final Report PDF
2.89 MB

ERRATUM - In TRV 2 2017,  p.39 table V.3, the values in the last four rows of column five were accidentally misreported. For this reason, ESMA now provides a corrected version, including the corrected values and a footnote pointing to the initial mistake.

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