ESMA · ESMA_QA_1104 Answer Published

ESMA’s guidelines on ETFs and other UCITS issues - UCITS ETF label

Regulation
Undertakings for Collective Investment in Transferable Securities Directive (UCITS) Directive 2009/65/EC
Topic
ETFs
Submitted
2013-03-15
Answered
2013-03-15
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Question

In the case of umbrella UCITS, does the requirement to use the label “UCITS ETF” apply to both the umbrella level and the sub-fund level?

Answer

[ESMA 34-43-392 UCITS Q&A, section 3, Q&A 2] If all the sub-funds are UCITS ETFs, the labelling requirement applies to the sub-fund level and the UCITS may decide to apply it to the umbrella level as well. However, if not all the sub-funds are UCITS ETFs, the labelling requirement only applies to the relevant sub-funds.
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This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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