Is your UCITS fund exposed to liquidity risk?
In the wake of the liquidity issues at Woodford last year, the CSSF is actively examining potential liquidity risks arising from loans made by UCITS funds. Indeed, regulators across Europe are examining assets held by UCITS funds offering daily liquidity that could be hard to sell under certain market conditions.
Luxembourg-based UCITS funds need to ensure that their liquidity policies and procedures are in line with CSSF Circular 19/733. Specifically, UCITS funds should:
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