EFAMA welcomes the Commission Proposal for a Regulation on the Review of the European Venture Capital Fund Regulation
Brussels, 14 July 2016:
The European Fund and Asset Management Association (EFAMA) welcomes the Commission Proposal for a Regulation on the Review of the European Venture Capital (EuVECA) Fund Regulation, with the aim to open up EuVECAs to a broader range of managers and to expand the scope of SMEs that can be financed by them.
EFAMA welcomes those improvements as a step forward into unlocking important capital and encouraging their shift towards investments in longer term projects and thus meeting one of the key objectives set in the CMU. At the same time it stresses that the market success of this product lies above all on its readiness to respond to the interests and needs of different types of investors and to provide them with the right incentives.
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About the European Fund and Asset Management Association (EFAMA):
EFAMA is the representative association for the European investment management industry. EFAMA represents through its 28 member associations and 61 corporate members EUR 21 trillion in assets under management of which EUR 12.6 trillion managed by 56,000 investment funds at end 2015. Just over 30,000 of these funds were UCITS (Undertakings for Collective Investments in Transferable Securities) funds, with the remaining 25,900 funds composed of AIFs (Alternative Investment Funds). For more information about EFAMA, please visit www.efama.org