New Performance Fee Declaration

On 22 September 2021, Luxembourg's financial regulator, the Commission de Surveillance du Secteur Financier ("CSSF"), issued a press release¹ announcing the launch of a new performance fee module on its eDesk platform².

Investment fund managers ("IFMs") that manage Luxembourg-based UCITS or AIFs, irrespective of whether they are subject to a performance fee, are required to complete a performance fee declaration on the eDesk platform from 30 September 2021.

Background

The requirement to complete a declaration follows the publication of CSSF's circular 20/764³, which confirmed that the CSSF has integrated the European Securities and Markets Authority's guidelines on performance fees in UCITS and certain types of AIFs (the "Guidelines"⁴) into its administrative practices and regulatory approach, and will enable the CSSF to capture standardised key information in relation to performance fees and ensure compliance with the Guidelines.