CSSF is launching a new eDesk filing for Investment Fund Managers 05 October 2021
On 22 September 2021, the Commission de Surveillance du Secteur Financier (CSSF) issued a press release inviting Investment Fund Managers (IFMs) to declare the performance fee models applicable to their Luxembourg based UCITS or AIFs by completing a questionnaire via the new eDesk module on performance fees which was launched on 30 September 2021.
The list of funds and sub-funds concerned by the declaration and data collection is provided in the performance fee dashboard of the eDesk module on performance fee:
- From 30 September 2021, all funds whose financial year ends between July 2021 and December 2021 will be available in the performance fee dashboard and IFMs shall transmit their performance fee declaration and the confirmation of compliance with the Guidelines.
- From January 2022, the performance fee declaration and the confirmation of compliance will be requested for the funds whose financial year ends between January 2022 and June 2022.
For reasons of clarity:
- Funds and sub-funds that are not subject to a performance fee must be declared as such accordingly.
- Funds that have not yet been launched since having been approved by the CSSF or that became inactive following the full redemption of their shares or units (and then await reactivation) must also be declared.
After the initial declaration and in case of changes, the IFM will also be responsible to ensure that performance fee declarations shall be kept up to date.
An eDesk user guide dedicated to the questionnaire will be available in eDesk to provide additional assistance.
The CSSF emphasises that proper disclosures to investors of performance fee models in compliance with the ESMA Guidelines are mandatory.
The press release can be found here.