CESR to consult on UCITS III hedge fund indexes
The Committee of European Securities Regulators (CESR) will consult further on whether or not hedge fund indexes fall with the definition of ‘financial indexes.’
In January CESR published a consultation paper entitled “Clarification of the Definitions Concerning Eligible Assets for Investment by Ucits: Can Hedge Fund Indexes be Classified as Financial Indexes for the Purpose of Ucits?”
The level 2 implementing directive is expected to be published this month. An open hearing on the proposals is due to be held on April 2, with the deadline for consultation responses set for April 16.
CESR expects to publish the final level 3 measures in May.
The ongoing
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