On 9 April 2020, the CSSF published a press release relating to the launch of a weekly questionnaire to be completed by investment fund managers (IFMs). The rationale behind this new questionnaire is to gather data in relation to the Luxembourg fund industry in the context of the current Covid-19 situation where financial markets are facing an increasing uncertainty.
More precisely, information to be provided concern updated financial data and governance arrangements of the funds managed by IFMs. Whilst the targeted IFMs are not precisely described, the gist of the press release is certainly to be addressed to all IFMs managing a Luxembourg investment fund i.e., including so-called registered alternative investment fund managers or self-managed undertakings for collective investment.
This questionnaire has been put in place to continue ongoing supervision during the current period of market turbulence. The purpose of this questionnaire is to provide the CSSF with weekly updates on financial data (total net assets, subscriptions and redemptions) and an update on governance arrangements in relation to the activities carried out by investment fund managers established in Luxembourg or in other countries and managing at least one investment fund, in view of the specific circumstances and risks to which these companies are exposed during this unprecedented crisis.
The first weekly response questionnaire, covering the period from 13 to 17 April, must be submitted via the CSSF's eDesk platform by 22 April 2020 at the latest and the process will continue until further notice by the CSSF.
More information about the questionnaire can be found on the homepage of the eDesk portal: https://edesk.apps.cssf.lu/edesk-dashboard/dashboard/getstarted.
This article has been written with the very valuable contribution of Mathilde Soetens.
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