EFAMA

Good coverage by Funds Europe of our latest statistical release showing investment fund net sales and net assets in May 2024. EFAMA’s monthly and quarterly statistical releases provide detailed information on the latest trends in the European fund industry. EFAMA is the primary source of statistical data on the European fund and asset management industry. More information can be found at https://lnkd.in/d2YEcccJ. https://lnkd.in/e6xc_S94

Considering joining EFAMA as member and eager to find out more about our work and structure? Our recently published Annual Review gives you a great overview of our work over the last twelve months and how we are organised. Check it out! For info on membership benefits, please contact [email protected]. https://lnkd.in/efxi6E6m

European Green Bond Standard - stakeholder workshop The European Green Bond Standard is a voluntary tool to support the transition to a low-carbon economy. It will become available to issuers on 21 December 2024. To support prospective issuers, #investors, external reviewers and other market participants, as well as the supervisory community, the European Commission is organising a workshop to provide information and discuss practical questions – register here and tell the EC what topics you would like to raise: https://lnkd.in/dE-Fg5U4 This online event will take place on 22 OCT between 9:30 – 12:30 CEST. #greenbonds #climatechange #esg #bonds #investmentfunds #greenwashing #ucits #sustainablefinance #euleadership

👏 EFAMA congratulates the Commission on a very robust set of Level 2 rules which will support the revised ELTIF rulebook. The ELTIF 2.0 Level 2 rules are almost complete: on Friday 19 July, the European Commission formally adopted its Delegated Regulation supplementing the ELTIF Regulation. This text will now be subject to a 3-month scrutiny period by the co-legislators before entering into force. There is no doubt that the changes to the ELTIF rulebook have been a success. Since the decision was made to update the ELTIF regime in 2021, we have seen remarkable changes in the market in only 3 years:   The number of ELTIFs has increased from 57 to more than 120 The AuM of ELTIFs have increased from €2.7bn to more than €13.6bn New domiciles have begun hosting ELTIFs At least 8 new asset managers have launched their own ELTIFs   We expect even more significant developments in this market once the Level 2 rules enter into application, which we expect to be by the end of this year. 👉 You can find the link to the Delegated Act here: https://lnkd.in/eJaZxC5E 👉 Visit our FAQ for further information on ELTIF 2.0: https://lnkd.in/eMZAUink

👏 Congratulations to Ursula von der Leyen and Roberta Metsola for their re-election as Presidents of the European Commission and European Parliament respectively this week. ✍️ We expect this will result in continuity and stability on the policy front, with a much needed focus on implementation rather than introducing new regulations. As we stressed in our own policy priorities, simplifying and streamlining existing rules will boost competitiveness. 🏃♀️ We are pleased to see competitiveness and the EU Green Deal are high on the Commission President's agenda and we can expect a "Clean Industrial Deal" within her first 100 days. It's time to help EU companies prosper and maintain our head start in the area of sustainability. 💶 And when it comes to much needed investment, there is a lot of political will to complete the Capital Markets Union. Policymakers need to be clear about the goals and understand the barriers currently getting in the way. 👉 You can find Von Der Leyen's priorities for the next 5 years here: https://lnkd.in/ehgEFPsJ 👉 Read our policy priorities here: https://lnkd.in/eckF4ir6 👉 You can also find more info on our joint publication "The Capital Flywheel" here: https://lnkd.in/dgRTvzxY #cmu #sustainablefinance #competitiveness #betterregulation

Fact Book Monday! Interested in the most recent trends in the European fund markets? Find it all out in our Fact Book 2024! 👉 https://lnkd.in/dPT7FMJ

EFAMA, the voice of the European investment management industry, looks forward to attending Eurofi’s Financial Forum of 11-13 September in beautiful Budapest.

Good coverage by Funds Society of some of the key findings of EFAMA’s 2024 Fact Book. The EFAMA Fact Book is the go-to reference for data on European investment funds and information on the most recent industry trends. This year’s edition also contains info-boxes on key regulatory files, including: - #DORA - #ELTIF 2.0 - #ESG ratings - FASTER withholding taxes - Global fund distribution - Retail Investment Strategy - #SFDR - #T 1 settlement cycle To access the Fact Book, please visit https://lnkd.in/dEP927G #funds #buyside #retailinvestors #aif #ucits #sustainability https://lnkd.in/egEwKCvq

Yesterday, EFAMA’s Director for Regulatory Policy, Vincent Ingham, attended ESMA’s Public hearing on shortening the settlement cycle in the EU. He took part as a representative of the buy-side in the first panel “What’s in for T 1 for EU Markets’ moderated by Andrea Gentilini, GFR PTWG Chair, ESMA, that discussed the merits, expected impacts, costs and benefits of an EU move to T 1 settlement. Here are some of the key points he raised during the discussion: - The smooth transition observed since the US migration to T1 on 28 May served as a ‘green light’ for many jurisdictions across the globe to assess and implement their own migration plans to T 1 settlement more actively, triggering a global domino effect. - Misalignment in settlement cycles with the US alone produces a substantial cost factor for the European buy-side which deteriorates the performance of European funds and is ultimately borne by EU investors - The UK is highly committed to moving to T 1 by the end of 2027 at the latest. EU buy-side firms are very keen to avoid a second misalignment with important markets like the UK. This would bring about operational complexity, having to cater for UK securities that would settle on T 1. - Broader trends in capital markets (including investors’ demand for 24/7 trading) also support a move to T 1 (as a strategic step forward on the long road towards T 0). - For all the above reasons, we see a consensus emerging more and more strongly among EU buy-side firms pointing to the need for the EU to move to T 1 as soon as operationally feasible and, preferably, in a coordinated way with the UK and Switzerland. - That being said, a successful EU transition will require meticulous preparation and strong coordination among all the stakeholders involved (including the regulators). - Substantial investments will be required, notably for the greater automation of trade allocation, confirmation and matching processes that will be necessary under a compressed timeframe to T 1. - The additional costs and investments in new systems that the move to T 1 will inevitably generate may be more difficult for smaller firms to justify and absorb. And a few takeaways from the public hearing: - An EU move to T 1 by Q4/2027 doesn’t seem to be an unrealistic target, provided that clarity can be given soon enough by EU authorities on a go-live date (this will be for the new Commission to decide) - Required changes to L1 regulations should be minimal - If the EU decides to go ahead, strong governance will be required around the project and a single authority should be in the lead - We are not starting from a blank page: pending an official decision, preparations are already underway both at official and private sector levels - No need to reinvent the wheel – let’s take inspiration from what others do and see if it works for us or if we need to devise our own solutions (mindful of the complexities of EU capital market structures)

📣 Join us for our next Regulatory Update call on Wednesday 10 July.   Topics covered will include: ✅ Retail Investment Strategy ✅ Sustainable finance and stewardship ✅ UCITS & AIFMD ✅ T 1 settlement ✅ EMIR 3.0 ✅ MiFID/R regulatory technical standards ✅ Financial stability ✅ ELTIF regulatory technical standards ✅ Prudential regulations (IFD-IFR) ✅ Financial data access (FIDA) ✅ Digital operational resilience (DORA) ✅ FASTER   👉 EFAMA members can register via [email protected]   🤝 Info on membership benefits available upon request addressed to [email protected] #assetmanagement #ris #ucits #dora #tplusone