Esma to gather data from regulators on closet trackers

Esma is collecting data on closet trackers as part of its review of fund fees and performance due to be released next year.

European Securities and Markets Authority chair Steven Maijoor says they are gathering data from regulators across the EU, adding that the FCA’s market study would be beneficial towards the work, Reuters reports.

“From our perspective, our objective is to ensure that national competent authorities are taking convergent approaches to situations where deficiencies are identified,” Maijoor told an Efama conference this week.

Esma’s study on fees and performance will be released in late 2018.