ESMA updates AIFMD Q&As

30/03/2021

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today updated its Questions and Answers on the application of the Alternative Investment Fund Managers Directive (AIFMD). 

ESMA has added two new Q&As on the ESMA’s guidelines on performance fees in UCITS and certain types of AIFs (“the guidelines”).

The Q&As provides clarification on the crystallisation of performance fees, on the timeline of the application of the performance reference period and the scope of the guidelines in respect of ELTIFs.

The purpose of this Q&A document is to promote common supervisory approaches and practices in the application of the guidelines.  

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