Central Bank publishes Thirty-Sixth Edition of the Central Bank UCITS Q&A Document

On 20^th December, the Central Bank issued the 36th edition of the Central Bank UCITS Q&A (PDF 553.74KB), which includes two new Q&A’s, ID’s 1105 and 1106.

The new Q&A, ID 1105, sets out the Central Bank’s expectations that multi-manager UCITS will comply with ESMA’s Q&A of July 2021 on performance fees in multi-manager UCITS. It confirms that existing multi-manager UCITS must bring their performance fee methodologies into compliance by 1 January 2023. 

ID 1106 addresses the circumstances of establishment of a new multi-manager UCITS utilising a performance fee and notes that those wishing to establish a new multi-manager UCITS with a performance fee must do so in compliance with ESMA’s Q&A of July 2021 on performance fees in multi-manager UCITS.