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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
28/11/2019 ESMA50-165-1009 ESMA Risk Dashboard No. 4 2019 Reference PDF
593.2 KB
10/09/2019 ESMA50-165-884 ESMA Risk Dashboard No. 3 2019 Reference PDF
618.93 KB
10/09/2019 ESMA50-165-8 ESMA report on trends, risks and vulnerabilities no.2 2019 Final Report PDF
2.31 MB
10/09/2019 ESMA50-165-875 ESMA report on trends, risks and vulnerabilities no.2 2019- statistical annex Reference PDF
1.39 MB
24/06/2019 esma30-22-620 Explanatory_note_on_the_survey_on_short_termism Reference PDF
195.6 KB
03/05/2019 ESMA35-43-1737 Final report on integrating sustainability risks and factors in the MIFID II , , Final Report PDF
371.73 KB
03/05/2019 ESMA34-45-688 Final report on integrating sustainability risks and factors in the UCITS Directive and the AIFMD , Final Report PDF
483.4 KB
22/03/2019 esma_50-158-1567 Presentation on short-termism Reference PDF
152.78 KB
28/02/2019 ESMA50-165-737 ESMA report on trends, risks and vulnerabilities no. 1 2019 Final Report PDF
2.24 MB
07/02/2019 ESMA50-157-1588 ESMA Risk Assessment Work Programme 2019 , , Reference PDF
465.58 KB
30/01/2019 ESMA22-105-661 Agenda for open hearing on sustainable finance Reference PDF
129.15 KB
25/09/2018 ESMA22-106-1189 CEMA GEA- Application form Reference DOCX
33.95 KB
25/09/2018 ESMA22-106-1190 Call for expressions of interest: Group of Economic Advisers for ESMA’s Committee for Economic and Markets Analysis Reference PDF
284.27 KB
06/09/2018 ESMA 50-165-632 ESMA report on trends, risks and vulnerabilities 2, 2018 Final Report PDF
3.7 MB
18/05/2018 ESMA50-157-956 CEMA Terms of Reference Reference PDF
194.67 KB
20/03/2018 ESMA50-165-538 ESMA report on trends, risks and vulnerabilities 1, 2018 Final Report PDF
3.24 MB
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.

19/10/2017 ESMA50-165-421 EU derivatives markets ─ a first-time overview , , , Reference PDF
477.35 KB
20/06/2017 WP12017 ESMA working paper on collateral scarcity premia in Euro area repo markets Reference PDF
1.01 MB

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