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ICMA AMIC publishes statement on fund delegation
10 April 2018 ICMA’s Asset Management and Investors Council (AMIC) has today published a statement on fund delegation, underlining the importance of fund delegation to the asset management business model and the threat from recent legislative proposals.
Delegation is one of the key pillars supporting the EU’s cross-border investment model which has made UCITS, and increasingly AIFs, a global brand and a European success story. The European Commission’s proposal to review the European Supervisory Authorities gives the European Securities and Markets Authority the power to issue opinions on existing and future delegation arrangements. AMIC believes this proposal could threaten the success of the European asset management business.
AMIC believes it is important not to jeopardise well-functioning savings and investment markets that European asset managers serve through policy initiatives that may have good intentions but result in potentially serious damage to the industry.

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