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New CSSF questionnaire on performance fees for UCITS and certain types of AIFs

On 24 March 2021, the CSSF published a new questionnaire relating to performance fees to be completed by investment fund managers for UCITS and certain types of AIFs as well as an AIFM confirmation letter on performance fees for stand-alone AIFs and multi-compartment AIFs.

The performance fees questionnaire and the confirmation letter for AIFs should be submitted either through attachment(s) to the eDesk platform in context of a fund set-up or by e-mail in the context of a new sub-fund approval process. The form and the confirmation letter must be signed by duly authorised representatives of the management company/ AIFM (as applicable).

The rationale behind this new questionnaire and confirmation letter is to provide information to the CSSF on the compliance with the ESMA guidelines on performance fees in UCITS and certain types of AIFs (ESMA34-39992) (the ESMA Guidelines) for funds / sub-funds which fall in scope of the ESMA Guidelines.

Our Luxembourg investment funds practice remains available should you have any queries on these questionnaires letters as well as for any question relating to the application of the ESMA Guidelines or the ESMA Guidelines grandfathering period for existing funds/sub-funds.

For further details, please refer to our previous publications on the matter: