CSSF updates FAQs on the possession of ancillary liquid assets by UCITS
On 3 November 2021, the Commission de Surveillance du Secteur Financier (CSSF) published updated FAQs with information on the holding of ancillary liquid assets by UCITS as per article 41 (2) (b) of the Law of 17 December 2010, seehere.
The purpose of these updates is to explain the circumstances and the extent to which UCITS are allowed to hold ancillary liquid assets. In this context, some aspects of UCITS and MMF diversification rules have also been clarified.
The new questions can be found in the following FAQs:
- FAQ concerning the Luxembourg Law of 17 December 2010 relating to undertakings for collective investment: Section 1 and Section 2.
- FAQ concerning MMFR: Section 2.
CSSF is alerting UCITS that are expected to comply with the conditions described in these questions by 31 December 2022 at the latest, considering the best interests of investors.