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The Association of the Luxembourg Fund Industry (ALFI) has published the third edition of its Swing Pricing Guidelines. Swing pricing, which has been applied in Luxembourg for the past 15 to 20 years, has proven to be an efficient mechanism to protect existing shareholders from dilution associated with shareholder purchases and redemptions as well as an additional tool to help funds manage liquidity risks. This technique is therefore perfectly in line with ALFI's main objectives to protect investors and to foster dedication to professional standards, integrity and quality.
ALFI's new Swing Pricing Guidelines reaffirm key principles, reflect the evolution in working practice and provide clarification on a number of technical points in areas such as calculation of the...
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