UCITS: ESMA updates Q&A

UCITS: ESMA updates Q&A

The European Securities and Markets Authority (ESMA) has published an update to its consolidated questions and answers (Q&A) document on the application of the Undertakings for the Collective Investment in Transferable Securities (UCITS) Directive.

The Q&A includes new Q&As on how investment limits should be applied where a UCITS wants to invest in an umbrella fund.