Is a look-through only required for underlying investments above a certain threshold within the
portfolio of the fund of fund? When dealing with fund of fund or other multi-layer instruments, does
the

Question

Is a look-through only required for underlying investments above a certain threshold within the
portfolio of the fund of fund? When dealing with fund of fund or other multi-layer instruments, does
the cost look-through need to be done through all layers or only through the first layer of underlying?
Private equity feeder funds invested in a master fund: do we have to apply a look through basis?

ESA Joint Committee (EBA, ESMA, EIOPA) · Accepted Answer

The calculation should take into account the costs incurred in the underlying funds or other underlying
PRIIPs. Where the underlying investments are PRIIPs producing KIDs, it will only be necessary to obtain
cost information from the KIDs. Where the underlying investments do not have KIDs, it will be necessary
to obtain KID equivalent information for the direct underlyings. This is because this information includes
costs incurred in any further layer of the underlying. This calculation applies to private equity feeder
funds as well.

Is a look-through only required for underlying investments above a certain threshold within the portfolio of the fund of fund? When dealing with fund of fund or other multi-layer instruments, does the

Question

Answer

Similar Q&As