CC Flickr / Donald Townsend
On 26 November the European Parliament and the Italian Presidency of the EU Council, supported by the European Commission, made a decisive progress toward the adoption of a Regulation on European Long-term Investment Funds (ELTIFs).
ELTIFs are a new harmonized European collective investment tool aimed at increasing investments in long-term assets. The new financial instrument will help to channel private capital to the real economy and contribute to the EU investment plan for growth and jobs which was presented on 26 November in Strasbourg by President Juncker.
“Facilitating alternative sources to financing the real economy, in line with the European objectives of a rapid, sustainable and widespread growth, is one of the main priorities of the Italian Presidency. ELTIFs will provide for a reliable tool to invest in sectors where a long-term perspective is needed, such as SMEs and infrastructures. The new harmonized scheme is also a complementary tool of the President Juncker investment plan as well as a concrete step toward the Capital Market Union” Italian Secretary of State Paola De Micheli said.
"Today's agreement gives us another tool in our fight to boost investment and growth in Europe. European long term investment funds (ELTIFs) will help to match long term projects and companies which want to grow with the investment they need. As an element of the Capital Market Union, they will support the EU's Investment Plan", Commissioner Jonathan Hill stated.
"On the very day that European Commission President Jean-Claude Juncker presented his investment plan for Europe, we have agreed on a structure to attract the savings of both individual and professional investors to finance long term investments in the European Union", said Mr Lamassoure.
"We welcome the political agreement on ELTIFs, which will provide the EU with a new tool to boost long-term investment in Europe and complement the Juncker investment plan", said Roberto Gualtieri