With over 100 developments tracked in the last month on ATLAS Funds Training, unsurprisingly COVID-19 continues to dominate the headlines. This month’s briefing covers the latest developments impacting asset managers, including: PRIIPs back in the spotlight with the EU divided over further reforms, Liquidity risk management, The renewal of short selling bans despite growing scepticism,…
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Seasonally adjusted GDP decreased by 3.8% in the euro area and by 3.5% in the EU during the first quarter of 2020, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union. These were the sharpest declines observed since time series started in 1995.…
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key information documents (PRIIPs-KID). Among other things, this review involves the forward-looking performance scenarios presented up to now. Based on the results of a consultation, the European Supervisory Authorities (ESAs) intend to propose using past performance as the basis of performance information for funds. However, the EU Commission is opposed to this proposal. The Commission…
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Heightened volatility in the Indian capital markets caused by COVID-19 have resulted in liquidity strains for a number of mutual funds. These strains have intensified in the wake of Franklin Templeton closing six debt mutual funds last week. With a view to easing liquidity pressures on Mutual Funds, the Reserve Bank of India has decided…
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In a bid to stimulate Japan’s economy, The Bank of Japan (BoJ) has removed the cap on quantitative easing by removing guidance that it would only buy government bonds worth up to 80 trillion yen (£59bn) a year. Additionally, the BoJ has raised a cap on holdings of business debt including commercial paper and corporate…
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Franklin Templeton Mutual Fund has announced it will wind up six yield-oriented, managed credit funds in India citing severe market liquidity issues caused by the COVID-19. “The decision has been taken in order to protect value for investors via a managed sale of the portfolio,” the Fund said in a statement. Source: https://on.ft.com/2S6ufr3
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ECB to grandfather until September 2021 eligibility of marketable assets used as collateral in Eurosystem credit operations falling below current minimum credit quality requirements Appropriate haircuts will apply for assets that fall below the Eurosystem minimum credit quality requirements Decision reinforces broader package of collateral easing measures adopted by the Governing Council on 7 April…
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Brent crude oil rebounded on Wednesday and continued to do so in Asia trading on Thursday morning. The gains come after Donald Trump tweeted: “I have instructed the United States Navy to shoot down and destroy any and all Iranian gunboats if they harass our ships at sea,” The prospect of renewed tensions in the…
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On 22nd April the AMF Enforcement Committee fined Elliott Advisors UK Limited and Elliott Capital Advisors L.P. for failing to comply with their reporting obligations in connection with a simplified public tender offer and, in the case of the former, for obstructing an AMF investigation. This is one of the largest fines in the regulator’s…
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Heavy redemptions during the COVID-19 induced sell-off sparked concerns amongst Regulators across Europe who have subsequently increased the scrutiny on liquidity of asset managers in varying manners. In Luxembourg, the CSSF’s first questionnaire covering the period from 13 April 2020 to 17 April 2020, must be submitted to the CSSF by 22 April 2020. The…
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