AFG would find it very helpful if ESMA highlighted in its workings that the criteria it proposes to define an AIF have to be looked at jointly: it is not because one of them is fulfilled that the structure under consideration can necessarily be defined as an AIF. But, where all criterias defining [...]
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Posted on April 2nd, 2012
Posted on September 29th, 2011
In AFG’s view, there is clear understanding that ETF are UCITS, except that they are listed and actively traded on a European stock exchange. UCITS should be treated the same, whether they are listed or not. Synthetic ETFs and structured UCITS are regulated under the UCITS rules that provide a strong European regulatory [...] Posted on September 28th, 2011
According to AFG: The concept of “equivalence” is not defined precisely enough and it would be difficult to assess in practice whether some third country rules are “equivalent” to EU rules or not. Posted on March 14th, 2011
AFG underlines that French asset managers are concerned by the present consultation for the two following reasons: as financial asset managers, they are concerned by the custody of assets by central depositaries and, in particular, they are concerned by the protection of their clients’ assets or managed funds (property rights and restitution) Posted on February 23rd, 2011
Highlights: Discretionary mandates are still keeping growing, by 6%, whereas French-domiciled funds (-2.6%) were affected by a drop in AUM in money market funds – which suffered from very low short-term interest rate- and have not benefited from the same rebound as in Northern European markets. 3 pages
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