Q. Does the statement set out in paragraph 47 of the ESMA Marketing Guidelines satisfy the requirement of Schedule 6(11) of the Central Bank UCITS Regulations?
A. Yes. Paragraph 47 of the ESMA Guidelines requires the following statement when information on past performance is presented:
'Past performance does not predict future returns'.
Schedule 6 of the Central Bank UCITS Regulations sets out a similar warning with respect to past performance, however the wording is not identical.
The Central Bank considers that the statement as per the paragraph 47 of the ESMA Marketing Guidelines satisfies the requirements of Schedule 6(11) of the Central Bank UCITS Regulations.