The directive (EU) 2024/927 categorizes available LMTs into Anti-Dilution Tools, Quantitative LMTs and Other LMTs.

UCITS and AIFMs managing open-ended AIFs are expected to select at least two appropriate LMTs from the list below, which is taken directly from this Directive:

1. Suspension of subscriptions, repurchases, and redemptions: Temporarily block the capital activity of the fund’s units or shares.
2. Redemption gate: Temporary and partial restriction of the right of unit-holders or shareholders to redeem their units or shares, allowing investors to only redeem a certain portion of their units or shares.
3. Extension of notice periods: Extending the period of notice that unit-holders or shareholders must give to fund managers, when redeeming their units or shares.
4. Redemption fee: An additional fee, within a predetermined range that takes account of the cost of liquidity, that is paid to the fund by unit-holders or shareholders when redeeming units or shares, and to protect unitholders or shareholders who remain in the fund from being unfairly disadvantaged. 
5. Swing pricing: A pre-determined mechanism by which the net asset value of the units or shares of an investment fund is adjusted by the application of a factor (“swing factor”) that reflects the cost of liquidity to protect unitholders or shareholders who remain in the fund.
6. Dual pricing: A pre-determined mechanism by which the subscription, repurchase and redemption prices of the units or shares of an investment fund are set by adjusting the net asset value per unit or share by a factor that reflects the cost of liquidity. This leads to the fund having a different net asset value per unit for purchase and for sale.
7. Anti-dilution levy: A fee that is paid to the fund by a unit-holder or shareholder at the time of a subscription, repurchase or redemption of units or shares, that compensates the fund for the cost of liquidity incurred because of the size of that transaction. 
8. Redemption in kind: transferring assets held by the fund, instead of selling them and giving the cash to investors, to meet redemption requests of unit-holders or shareholders.
9. Side pockets: Separating certain assets, whose economic or legal features have changed significantly or become uncertain due to exceptional circumstances, from the other assets of the fund. 

Note: Tools 5 (Swing pricing) and 6 (Dual pricing) cannot be selected alone.

For authorized money market funds, only one liquidity management tool may be selected.

Below is a list of our services, fully aligned with ESMA RTS and guidelines.