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ARTICLE · 23 FEBRUARY 2023

ELTIF Enhancements En Route

William Fry LLP
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The regulation on the European Long-Term Investment Fund (ELTIF) of the European Union (EU) entered into force in 2015. A long-term investment fund is a fund that invests in the real economy...

IrelandFinance and Banking
John Aherne
John Aherne
Niall Crowley
Niall Crowley
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The regulation on the European Long-Term Investment Fund (ELTIF) of the European Union (EU) entered into force in 2015. A long-term investment fund is a fund that invests in the real economy (such as financing for SMEs) and real assets (such as infrastructure projects and real estate). While having the advantage of a harmonised alternative investment fund (AIF) product with a retail passport, the ELTIF nonetheless has had only limited take-up to date. The original ELTIF regulation had a range of shortcomings and portfolio constraints that resulted in the product being of limited appeal and utility for fund sponsors.

Following a Commission review, a number of important enhancements have been made to the ELTIF regulation. These reforms, to take effect in January/February 2024, herald a brighter future for the ETIF.

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