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2018-05-15

Regulations amending Finansinspektionen’s regulations regarding Swedish UCITS

Finansinspektionen amended its regulations on Swedish UCITS to mandate quarterly reporting of holdings, risks, and liquidity by management companies. The new rules require summaries to include net asset value, leverage, standard deviation, and asset liquidation periods, with specific provisions for Value-at-Risk models. These regulations entered into force on 1 October 2018 and apply to summaries as of 28 December 2018.

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Finansinspektionen’s Regulatory Code Publisher: Finansinspektionen, Sweden, www.fi.se ISSN 1102-7460 This translation is furnished for information purposes only and is not itself a legal document. 1 Regulations amending Finansinspektionen’s regulations (FFFS 2013:9) regarding Swedish UCITS; decided on 17 April 2018

Finansinspektionen prescribes pursuant to section 18, point 33 of the Swedish UCITS Ordinance (2013:588) relating to Finansinspektionen’s regulations (FFFS 2013:9) regarding Swedish UCITS in part that Chapter 33, section 10 shall be repealed, in part that Chapter 33, section 9 and the heading immediately preceding Chapter 33, section 9 shall have the following wording. Chapter 33 Reporting of holdings and risks Section 9 A Swedish management company, for each Swedish UCITS that the undertaking manages, shall show a summary as per the last banking day in each quarter of the Swedish UCITS’s holdings of assets as set out in the Swedish UCITS Act (2004:46), net asset value, other assets and liabilities in the fund and the unit value. This summary shall also contain information about

  1. leverage calculated as the sum of the derivative instruments’ underlying exposed amounts,

  2. standard deviation, and

  3. percentage of the UCITS’s assets that can be liquidated within 1 day, 2–7 days, 8–30 days, 31–90 days, 91–180 days, 181–365 days or 366 days or more. If the UCITS’s total exposure is calculated using a Value-at-Risk model, the summary shall contain information about the model and the fund’s Value at Risk and how it is calculated. The summary shall be prepared in accordance with the instructions provided on Finansinspektionen’s website. FFFS 2018:8 Published on 23 April 2018

FFFS 2018:8 2

These regulations shall enter into force on 1 October 2018 and apply for the first time to summaries as at 28 December 2018. ERIK THEDÉEN Joakim Henning

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