EFAMA commented on the European Parliaments’ draft report on asset management calling that the upcoming Commission’s proposal must not be overloaded.
EFAMA is strictly opposed to any opening of discussion on eligible assets as mentioned under Article 19(1), and therefore asks the Rapporteur not to encourage the Commission to include in its UCITS IV proposal any extension of Article 19(1) by making open-ended real estate funds and/possibly funds of hedge funds eligible assets, or any waiver from the notification procedure.
Their inclusion might significantly complicate the discussion at Council and Parliament level and thus increase the risk of not getting this Directive through the legislative procedure before the terms of the current Parliament and Commission end, EFAMA states.
© EFAMA - European Fund and Asset Management Association
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