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December 1, 2025

Packaging artists in trouble – ESMA recommends adjusting the UCITS Eligible Assets Directive


Packaging artists in trouble. In a recent recommendation, the European Securities and Markets Authority (ESMA) advises adjusting the UCITS Eligible Assets Directive. This would mean that individual asset classes would lose their UCITS eligibility and could therefore no longer be purchased in a UCITS structure. The final decision will be made by the EU Commission. Florian Geuder outlines whether real asset investments can and should be suitable investment objects for a securities fund if they are packaged in a security.

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