European Union:
European Long Term Investment Funds - ELTIFs
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The publication of the Regulation for ELTIFs on 19 May 2015 in
the EU Official Journal will result in ELTIFs being introduced
under the AIFMD as a new fund label for long term investment funds
but ones which will have a passport for promotion of retail
investors. The logic as to how UCITS and AIFMD sit alongside each
other, with AIFMD being for managers of alternative investment
funds offered to professional investors, is put into question.
Nonetheless, it is encouraging that the European Commission is open
to widening the offering of the range of investment funds. Indeed,
in its flagship initiative for Building a Capital Markets Union
published in February, it sees early progress resulting from
supporting the take up of new ELTIFs to channel investment into
infrastructure and other long term projects.
Read the full ELTIF Briefing Paper here.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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