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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
07/11/2018 ESMA71-99-1058 ESMA new SC chairs , , Statement PDF
142.32 KB
18/10/2018 ESMA71-99-1027 ESMA data analysis values EU derivatives market at €660 trillion with central clearing increasing significantly , Press Release PDF
238.11 KB
18/10/2018 ESMA 50-165-670 Annual statistical report of the EU Derivatives Markets- 2018 Report PDF
1.37 MB
25/09/2018 ESMA50-165-651 ESMA working paper on liquidity in EU fixed income markets – Risk indicators and EU evidence Report PDF
1.06 MB
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 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
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
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
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.

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