ESMA provides clarification on the reporting of risk measures under AIFMD
28 August 2025 _ Regulatory & compliance
The European Securities and Markets Authority (ESMA), has updated the Opinion Collection of information for the effective monitoring of systemic risk. NCAs could require AIFMs to report on a periodic basis pursuant to Article 24(5), first sub-paragraph of the AIFMD, in the context of AIFMD reporting.
In particular, the updates aim at providing clarifications to three risk measures (Value-at-Risk, Net FX Delta and Net Commodity Delta) already included in the Opinion in the section “Information on risk measures”. This section has been amended to provide guidance to AIFMs, with definitions of the risk measures and practical examples for the reporting.
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The contents of this informative message are the result of the free interpretation, evaluation and appreciation of Pharus Asset Management SA and constitute simple food for thought.
Any information and data indicated have a purely informative purpose and do not in any way represent an investment advisory service: the resulting operational decisions are to be considered taken by the user in full autonomy and at his own exclusive risk.
Pharus Asset Management SA dedicates the utmost attention and precision to the information contained in this message; nevertheless, no liability shall be accepted for errors, omissions, inaccuracies or manipulations by third parties on what is materially processed capable of affecting the correctness of the information provided and the reliability of the same, as well as for any result obtained using the said information.
It is not permitted to copy, alter, distribute, publish or use these contents on other sites for commercial use without the specific authorization of Pharus Asset Management SA.
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