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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
08/04/2022 ESMA81-459-57 Working group on euro risk-free rates- 2 March 2022 minutes Reference PDF
969.61 KB
18/07/2022 ESMA81-459-65 Working Group on Euro Risk-Free Rates- 17 June Meeting Minutes Reference PDF
3.32 MB
02/03/2022 ESMA81-459-50 Working Group on Euro Risk-Free Rates – Work Programme for 2022/23 Reference PDF
186.08 KB
20/07/2022 ESMA50-164-2193 TRV Article_Key Retail Risk Indicators for the EU single market , Reference PDF
419.1 KB
28/09/2015 2015/1468 Trading venue briefing , Reference PDF
304.63 KB
04/04/2016 2016/227 ToR SMSC Reference PDF
143.74 KB
11/02/2016 2016/213 ToR OWG Transparency Reference PDF
105.18 KB
04/04/2016 2016/221 ToR MDSC Reference
04/04/2016 2016/217 ToR IFRS PG Reference PDF
95.62 KB
04/04/2016 2016/216 ToR EECS Reference PDF
103.12 KB
11/02/2016 2016/215 ToR CRSC Reference PDF
131.23 KB
11/02/2016 2016/209 ToR CEMA Reference PDF
128.84 KB
11/02/2016 2016/210 ToR CDTF Reference PDF
134.83 KB
04/04/2016 2016/218 ToR Audit Working Group Reference PDF
113.35 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.

01/03/2022 ESMA50-165-2033 The 2020 short selling bans – market impact Reference PDF
282.3 KB
19/12/2017 ESMA70-156-185 Template for reporting circuit breakers parameters to ESMA Reference XLSX
41.46 KB
27/10/2017 ESMA32-63-364 Summary of results of the fact finding exercise on IFRS 9 and IFRS 15 , Reference PDF
292.46 KB
10/12/2018 ESMA33-128-585 STS Reporting Instructions Reference PDF
456.26 KB
13/08/2019 ESMA33-128-761 STS notifications cancelled as from 01/01/2019 Regulation 2402/2017 Reference XLSX
63.86 KB

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