Objectives

The objectives are to: (i) provide participants with an overview of the legal and regulatory framework applicable to UCITS with regard to eligible asset classes; as well as (ii) details related to the CSSF administrative practice for specific instruments (including disclosure requirements and specific CSSF expectations).

Content

1. Transferable securities

• Explanation of the conditions applicable to the qualification of a financial instrument as a “transferable security”
• Additional conditions applicable to the eligibility of transferable securities under article 41(1) of the law of 17 December 2010 relating to undertakings for collective investment (the “2010 Law”)
• The concept of the so-called “thrash ratio” under article 41(2) of the 2010 Law
• Case study related to transferable securities and their eligibility for UCITS

2. Money market instruments

• Explanation of the conditions applicable to the qualification as “money market instrument”
• Case study related to money market instruments and their eligibility for UCITS

3. Derivatives

• Explanation of the rules applicable to investments in financial derivative instruments
• Case study related to financial derivative instruments and their eligibility for UCITS

4. Overview of the CSSF administrative practice related to specific instruments

• Loans
• Contingent convertible bonds (CoCos)
• Catastrophe bonds (Cat bonds)
• Securitisation instruments (incl. ABS/MBS)
• Special Purpose Acquisition Companies (SPACs)
• Digital assets
• Case studies related to the eligibility of certain specific instruments for UCITS

5. How to take exposure to ineligible assets?

• Investment in delta one certificates
• Investment in financial indices
• Case study related to exposure to ineligible assets

Speakers

Piotr Giemza-Popowski (Cousel, Investment Management, Arendt & Merdernach)

Allison Niccoletti (Associate, Arendt & Medernach)

Target Group

Directors of UCITS; compliance officers, legal officers and risk managers within UCITS management companies, portfolio managers managing UCITS and junior auditors involved in the audit of UCITS.

Duration

3 hours 

Language

English 

Price

€400

For more information, please contact us by e-mail at institute@arendt.com