Central Bank letter to fund management companies

On 10 March the Central Bank issued a letter (PDF 296.37KB) to fund management companies that were surveyed as part of an ESMA co-ordinated exercise analysing the preparedness of funds with significant exposures to corporate debt to potential future shocks, including any resumption of significant redemptions and/or an increase in valuation uncertainty.  While the letter was specific to this set of firms and a sub-set of funds they manage, the findings from the ESMA Review more broadly are important and should be noted by all firms.