Table of contents
- Growth in semi-liquid evergreen funds
- ESMA consults on standards
- Liquidity management
- Sound liquidity management
- Appropriate redemption policy
- Appropriate proportion of liquid assets
- Liquidity stress testing
- Ongoing monitoring
- Conclusion
Article summary
Law360, Expert analysis: Against the backdrop of greater focus on European competitiveness and a changed geopolitical landscape following the US presidential election, the European Securities and Markets Authority (ESMA) is consulting on draft regulatory technical standards (RTS) for open-ended loan-originating alternative investment funds, or AIFs, under the AIF Managers Directive (EU) 2024/927 of the European Parliament and of the Council of 13 March 2024 (AIFMD II). Aaron Mulcahy, partner at Maples Group, highlights the growth in semi-liquid evergreen funds and sets out the key proposals of ESMA in the standards
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