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ESMA publishes updated UCITS Q&A

21 November 2016

The European Securities and Markets Authority (ESMA) has published an updated questions and answers document on the application of the Undertakings for the Collective Investment in Transferable Securities Directive (UCITS).

The Q&A includes two new questions and answers on how investment limits should be applied where a UCITS wants to invest in an umbrella fund.

The purpose of the Q&A document is to promote common supervisory approaches and practices in the application of the UCITS Directive and its implementing measures.