ESMA_QA_2472
Topic
14/03/2025
Subject Matter
Redemption policy
Question
Pursuant to Article 23(4) point (d) of the ELTIF Regulation, shall the ELTIF disclose in its rules or instruments of incorporation a minimum (and not only a maximum, as per the requirements of Article 18(2) point d) of the ELTIF Regulation) percentage of liquid assets referred to in article 9(1) point (b) to be used for redemption requests?
ESMA_QA_2471
Topic
14/03/2025
Subject Matter
Investment strategy
Question
Do the requirements of Articles 16(4) and 17(1) of the ELTIF Regulation only apply to closed-ended ELTIFs?

If not, how may an open-ended ELTIF, as referred to in Article 18(2) of the ELTIF Regulation, reconcile its obligation to comply with the portfolio composition/diversification requirements, set out in Article 13 of the ELTIF Regulation, with the borrowing limits of the ELTIF Regulation, referred to in Article 16(1) of the ELTIF Regulation, if the suspension referred to in Article 17(1) point c) is to apply at each subscription/redemption?
Subject Matter
Autotrading
Question
Do “copy trading services” (also referred as “auto trading services”) related to crypto-assets fall within the scope of portfolio management or any other crypto-asset services as listed in Article 3(1)(16) of MiCA?
Level 1 Regulation