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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
22/12/2020 ESMA34-47-352 ToR OWG IMSC Reference PDF
101.55 KB
15/02/2021 ESMA34-47-369 Call for expression of interest IMSC CWG 2021 Reference PDF
155.71 KB
01/02/2017 ESMA34-47-86 IMSC CWG Call for Candidates Feb 2017 Reference PDF
270.61 KB
13/04/2021 ESMA34-49-309 response form Response form to CP on MMFR review Reference DOCX
773.2 KB
22/03/2019 esma35-36-1590 Presentation on CPs MIFID-UCITS-AIFMD , , Reference PDF
187.17 KB
05/02/2019 ESMA50-164-1942 Alternative Investment Funds (AIFs) exposures to commercial real estate- 2017 Reference PDF
326.45 KB
23/12/2019 ESMA50-164-2969 Alternative Investment Funds (AIFs) exposures to commercial real estate- 2018 , Reference PDF
146.79 KB
01/02/2021 ESMA50-164-4105 Alternative Investment Funds (AIFs) exposures to commercial real estate- 2019 , Reference PDF
109.68 KB
18/02/2022 ESMA50-164-5623 Alternative Investment Funds (AIFs) exposures to commercial real estate- 2020 , Reference PDF
109.33 KB
23/05/2022 ESMA50-165-2146 The drivers of the costs and performance of ESG funds , Reference PDF
532.34 KB
19/10/2017 ESMA50-165-421 EU derivatives markets ─ a first-time overview , , , Reference PDF
477.35 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.

04/12/2020 ESMA65-8-6480 Money Market Fund Reporting Technical Reporting Instructions Reference ZIP
2.73 MB
20/05/2022 ESMA65-8-6560 Technical Reporting Instructions- CSDR Article 9- Internalised Settlement Reporting Reference PDF
1.75 MB
03/04/2019 ESMA65-8-6561 Technical Guidance for Settlement Internalisers – Report Validation Rules (CSDR Article 9) Reference PDF
1.61 MB
20/12/2021 ESMA65-8-6905 CSDR7 Settlements Fails XML Schema Reference ZIP
451.11 KB
20/05/2022 ESMA65-8-7109 Technical Reporting Instructions CSDR Article 7 – Settlement Fails Reporting Reference PDF
1018.94 KB
13/04/2021 ESMA70-145-1395 DATA_templates TRs , Reference XLSX
53.23 KB
13/04/2021 ESMA70-145-1396 GOV_BUS_FIN_FEE_templates , Reference XLSX
52.82 KB
13/04/2021 ESMA70-145-1397 TRs IC_templates , Reference XLSX
30.4 KB