We are delighted to inform you that BaFin performance fee disclosure guidance BaFin sample cost clauses for open-ended retail investment funds (excluding real estate contractual investment funds) hereafter the “Rules”, dated June 2018 is applicable ONLY for German UCITS from 31 December 2019 at the latest.
FundGlobam has requested the official position from the BaFin, and BaFin has confirmed that EU foreign UCITS are not required to comply with the BVI performance fee calculation at the moment.
The performance fee calculation subject is still under discussion at the European Level (re. the ESMA consultation process opened by July the 16th, 2019; the consultation was closed on October, the 31st and ESMA is now in the analysis process. A position and an EU harmonized rule is expected Q1 2020).
We will keep you informed about any further developments.
Feel free to contact us should you require any additional information by email at info@fundglobam.com or through the contact form on this website.