The importance of maintaining flexibility to facilitate the ELTIF manager to act in the best interest of investors and implement the most appropriate liquidity management tools;
ICMA’s Asset Management and Investors Council (AMIC) submitted its response to the European Securities and Markets Authority (ESMA) consultation on the draft regulatory technical standards under the revised European Long-Term Investment Funds (ELTIF) regulation.
AMIC recommended a number of considerations to be taken into account in the final Regulatory Technical Standards (RTS) in order to ensure the success of ELTIF 2.0 and preserve the improvements agreed at level 1.
Particularly, AMIC highlights:
- The importance of maintaining flexibility to facilitate the ELTIF manager to act in the best interest of investors and implement the most appropriate liquidity management tools;
- The need to consider liquidity management tools and redemption policies holistically, and not in isolation;
- The wider regulatory landscape to ensure a coherent and consistent approach across regulations.
ICMA's detailed response can be found here.
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