On 28 July 2017, the CSSF published a Press Release on its conclusions on closet index tracking work following its investigations further to the publication on 2 February 2016 of ESMA's Statement "Supervisory work on potential closet index tracking" concerning UCITS qualifying as closet index trackers.
In its press release, the CSSF states that the description of the investment objectives and policies of UCITS funds in their prospectuses and KIIDs shall indicate any benchmark used explicitly or implicitly by the UCITS in its investment approach, along with the degree of freedom in relation to this benchmark.
At EFAMA's Investment Management Forum in Brussels on 16 November 2017, the Chair of the ESMA, Steven Maijoor, mentioned that further work on closet indexing would be performed.
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