Association Luxembourgeoise
de Risk ManagementLuxembourg Association for Risk Management

PRiM Risk Newsletter No 24 - Risk in Investment Funds

30 Jan 2011

In comparison with the banking sector, risk management in the fund industry has traditionally had a relatively narrow focus on fund performance, centred on portfolio management. The acceptance of higher risk instruments such as derivatives in UCITS III and the far-reaching impact of the financial crisis on fund markets have resulted in a wider focus on risk management in investment funds. The often discussed Article 42 of the Luxembourg Law of 20.12.02 and the subsequent Circular 07/308 are manifestations of the increasing importance of risk management in investment funds. With the approval of the Alternative Investment Fund Managers Directive and UCITS IV, this focus on risk management in investment funds has gained momentum and encouraged PRiM to dedicate this issue of the Newsletter to the topic of risk management in investment funds.

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