ESMA updates funds FAQs

ESMA has updated its FAQs on AIFMD and UCITS. The additions focus on:

  • clarifying that the AIFMD marketing passport under Article 32 AIFMD can be used only for marketing to professional investors as defined in AIFMD and cannot include any additional categories of investor that individual Member States have introduced (such as “qualifying” or “semi-professional”); and
  • confirming tat a UCITS management company can apply for a cross-border passport without having to identify any specific UCITS.