Central Bank of Ireland cracks down on 182 closet tracker funds

The CBI has already taken action against 57 of the 62 funds

Mike Sheen
18 July 2019

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The Central Bank of Ireland (CBI) has identified and is investigating 182 UCITS funds it suspects of being "closet trackers", with the funds regulator already forcing boards to take action on the "transparency" of fund documentation.

Following a review of 2,550 Ireland-domiciled UCITS funds marketed as active products, the CBI found 182 met pan-European regulator ESMA's definition of a closet tracker. The CBI has already made investigations...

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