European funds wary of stress-test ‘straitjacket’

As Esma finalises guidance, some fear a one-size-fits-all approach

European asset fund managers are anticipating coming stress-test guidance with a mixture of curiosity and trepidation.

By early 2019, the European Securities and Markets Authority will have issued its stress proposals for both Ucits and alternative investment funds (AIFs), a €15.8 trillion ($18.3 trillion) asset mother lode, for their performance in a dire market scenario.

And while the industry recognises the need for a general standard beyond the motley in-house scenarios used at present

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