Alternative Investment Management Association Representing the global hedge fund industry
In June 2013, the European Commission proposed a new European Long-Term Investment Funds Regulation as a new “investment fund framework designed for investors who want to put money into companies and projects for the long term.” The regulation is an overlay to the Alternative Investment Fund Managers Directive (‘AIFMD’), requiring that at its base each ELTIF is an alternative investment fund (‘AIF’) with an authorised alternative investment fund manager (‘AIFM’). This product regulation offers AIFMs the opportunity to have their AIFs designated as ELTIFs, which would also mean that the fund could be potentially sold to retail investors via a passport, provided the specific investment restrictions and liquidity, leverage, diversification, and redemption limitations are all met. The proposal is progressing at the European level.
ELTIF - Council text agreed as general approach (25 June 2014)
ELTIF - ECON text agreed in Plenary (17 April 2014)
Informal questionnaire on private long term investment funds – issued by the Asset Management Unit of the Directorate General Internal Market and Services (DG MARKT) of the European Commission (January 2013)
Position Paper - European Long-Term Investment Funds (September 2013)