Brussels, 17/04/2014 (Agence Europe) - On Thursday 17 April, the European Parliament gave its support to setting up European long-term investment funds (ELTIFs) (see EUROPE 10875).
This regulation aims to attract capital investors (e.g. pension funds) and make their investments in long-term projects attractive, such as those in the transport and energy infrastructure domains.
According to MEPs, these funds should invest at least 70% of capital in eligible investments assets - for example non-listed undertakings and listed SMEs that issue equity or debt instruments for which there is no readily identifiable buyer and listed undertakings of maximum capitalization of €1 billion. They would be unable to disengage from these commitments until the assets mature unless they reinvest in the same assets for a similar period. The financial actors investing in ELTIFs will benefit from tax deductions. The dossier will be sent to the future European Parliament, after the European elections in May. (MB)