On 5 April 2022, the CSSF issued a communiqué inviting investment fund managers (“IFMs”) to declare via a dedicated eDesk application the performance fee models applicable to Luxembourg UCITS or AIFs they manage.
In the context of the ESMA guidelines on performance fees applicable to UCITs and certain types of AIFs published in November 2020 and the CSSF Communication dated 22 September 2021 the CSSF reminds IFMs that they must undertake a self-assessment and declare, where applicable, which performance fee models are used by the investment funds they manage. For further information, please see our previous article on the subject.
What is requested
IFMs are requested for Luxembourg-based UCITS or AIFs they manage to complete a dedicated performance fee declaration via the eDesk application on performance fees. The application is updated on a regulator basis and the communiqué contains details on the latest features.
The deadline for the initial declaration is the latest before the corresponding financial year close of each fund. As from January 2022 the declaration is being requested for the funds whose financial year is ending between January 2022 and June 2022.