With some months now passed since the ESMA recommendation regarding the eligibility of catastrophe bonds within UCITS investment fund structures, Daniel Grieger of Plenum Investments has highlighted how national regulators are not all in agreement.
The European Securities and Markets Authority’s (ESMA) made a recommendation in June to the European Commission not to allow catastrophe bonds as eligible assets in UCITS funds, a move that has gained wide attention across the industry.
With catastrophe bond funds structured in the UCITS regulated format holding over $17.7 billion in assets as of September 30th 2025, the recommendation has caused waves.
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