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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
11/03/2013 2013/280 Vacancy notice- Chair of Committee drafting a proxy advising industry Code of Conduct , Reference PDF
102.91 KB
04/04/2019 ESMA34-45-651 UCITS Sanction Report 2016/2017 Report PDF
398.96 KB
31/03/2016 UCITS RF UCITS Infringement reporting form template Reference DOCX
51.1 KB
22/12/2020 ESMA34-47-352 ToR OWG IMSC Reference PDF
101.55 KB
04/04/2016 2016/223 ToR IMSC Reference
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.

23/05/2022 ESMA50-165-2146 The drivers of the costs and performance of ESG funds , Reference PDF
532.34 KB
15/11/2013 2013/1360 Tables 8-9-10 of Annex 2 of ESMA guidelines on AIFMD reporting obligation (revised) Reference XLSX
310.05 KB
Questions regarding technical support should be sent to info.it.aifmd[at]esma.europa.eu.
31/05/2022 ESMA34-45-1427 Supervisory briefing- Sustainability risks and disclosures in the area of investment management , Reference PDF
312.39 KB
04/06/2020 ESMA34-39-1042 Supervisory briefing on the supervision of costs in UCITS and AIFs , Report PDF
162.41 KB
28/05/2021 ESMA81-393-98 Supervisory Briefing on Benchmark administrators’ presence in their Member States of location and outsourcing , Report PDF
200.21 KB
05/09/2019 ESMA50-164-2458 Stress simulation for investment funds , Report PDF
868.55 KB
29/11/2013 2013/998 SL Smernice o vzorcu memoranduma glede posvetovanja, sodelovanja in izmenjave informacij v zvezi z nadzorom subjektov iz direktive UAIS , Reference PDF
246.77 KB
29/11/2017 ECB/ESMA/FSMA Risk Free Rate Working Group Application Form Reference DOCX
25.87 KB
29/11/2013 2013/998 DA Retningslinjer for modellen til aftalememorandum om høring, samarbejde og informationsudveksling vedrørende tilsyn med AIFMD-enheder , Reference PDF
241.03 KB
05/02/2019 ESMA34-39-795 Response from to consultation on liquidity stress tests Reference DOCX
773.16 KB
08/07/2022 ESMA81-393-513 Response form- RTS on recognition under the Benchmarks Regulation Reference DOCX
755.16 KB

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