Question ID: 1306
Regulation Reference: (EU) No 2015/2452 - procedures, formats and templates of the solvency and financial condition report
Article: 35
Status: Final
Date of submission: 30 Aug 2017
Question
In EIOPA logfiles as General comments is mentioning: In case of funds of funds the look–through shall follow the same approach.
In the underlying asset category (C0030) is mentioned:
When the look–through regards a fund of funds, category “4 – Collective Investment Units” shall be used only for non–material residual values.
How could we identify a underlying fund of funds in the underlying asset category (C0030) as "4" (if the fund of funds Look-through a non-material residual values)
Could we indentify the underlying collective investment units as "4" if not more than 5% of the fund is representing in the underlying collective investment units?
EIOPA answer
The current draft amendment ITS on Reporting amends the instructions for C0030. According to the amendment "Category "4 – Collective Investment Units" shall be used only for non–material residual values for both 'funds of funds' and any other fund."
The assessment of the materiality of the amount not looked-through by asset category, i.e. the assessment of non-material residual value, is of undertakings responsibility.
Please consider that there are also other changes in the general comments sections. The ITS corrections are available under the pageSupervisory reporting - DPM and XBRL.