IOSCO publishes Final report on Valuing Collective Investment Schemes (CIS)

The CSSF would like to inform industry participants that the International Organization of Securities Commissions (IOSCO) published on 1 June 2026 its Final Report on Valuing Collective Investment Schemes (CIS), which sets out a comprehensive and updated set of recommendations to further enhance the reliability, consistency and transparency of valuation practices across global investment funds.

The Report can be found on IOSCO’s website at: Final Report on Valuing Collective Investment Schemes (CIS).

A related IOSCO press release is available at: https://www.iosco.org/news/pdf/IOSCONEWS797.pdf.

With this report, IOSCO updates and consolidates in one document its earlier, and formerly separate Principles on valuation for collective investment schemes and hedge funds respectively.

The report takes into consideration feedback from market participants and developments in financial markets, such as the rise in funds investing in less liquid, harder-to-value assets, including private assets, and the increasing participation of retail investors in such funds.

The revised set of recommendations aims at strengthening valuation practices across jurisdictions and market participants, while being proportionate and adaptable across different types of funds and jurisdictions, and promoting a more harmonised and a more globally consistent framework for fund valuations.