ESMA · ESMA_QA_1172 Answer Published
KIID Financial indices
- Regulation
- Undertakings for Collective Investment in Transferable Securities Directive (UCITS) Directive 2009/65/EC
- Topic
- UCITS eligible assets and investment restrictions
- Submitted
- 2014-03-24
- Answered
- 2014-03-24
Question
According to paragraph 59 of the guidelines, UCITS should not invest in financial indices whose methodologies permit retrospective changes to previously published index values (‘backfilling’). Does this provision cover calculation mistakes?
Answer
[ESMA 34-43-392 UCITS Q&A, section 3, Q&A 7i] No. Calculation mistakes are not covered by paragraph 59 of the guidelines.
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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