Version in force , Modified +4 −27§
Amended by Regulation (EU) 2023/606 32023R0606 on EUR-Lex (external, EUR-Lex) · Regulation (EU) 2023/2869 32023R2869 on EUR-Lex (external, EUR-Lex)
Explanation, written by a model and checked against the cited text
Paragraph 2 previously required disclosure of an overall ratio of the costs to the capital of the ELTIF, whereas it now requires disclosure of an overall cost ratio of the ELTIF.
Cited: Art. 25, v1 (external, EUR-Lex) · Art. 25, v2 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex, before and after
Previous version 32015R0760 → this version, in force 10 January 2024 02015R0760-20240110
Article 25
Cost disclosure
1. The prospectus shall prominently inform investors of the level of the different costs borne directly or indirectly by the investors. The different costs shall be grouped according to the following headings:
(a) costs of setting up the ELTIF;
(b) costs related to the acquisition of assets;
(c) management and performance related fees;
(d) distribution costs;
(e) other costs, including administrative, regulatory, depositary, custodial, professional service and audit costs.
2. The prospectus shall disclose an overall cost ratio of the costs to the capital of the ELTIF.
3. ESMA shall develop draft regulatory technical standards to specify the common definitions, calculation methodologies and presentation formats of the costs referred to in paragraph 1 and the overall ratio referred to in paragraph 2.
When developing these draft regulatory technical standards, ESMA shall take into account the regulatory technical standards referred to in points (a) and (c) of Article 8(5) of Regulation (EU) No 1286/2014.
ESMA shall submit those draft regulatory technical standards to the Commission by 9 September 2015.
Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.