Luxembourg - ALFI guidelines regarding the ESMA Opinion on share classes of UCITS

On 6 July 2017, the CSSF updated its FAQ relating to UCITS by adding, among others, a section 7 relating to the ESMA Opinion on share classes of UCITS (the “ESMA Opinion”). The ESMA Opinion still raises various questions regarding its practical implementation. On 9 January 2018, ALFI published a first series of guidelines following discussions with the Luxembourg supervisory authority. You will find below a summary of this document. Separate accounts and contracts: there is no require