The Commission published three reports that analyse the main challenges facing different segments of the EU investment fund industry, focusing respectively on retail investment funds (UCITS), hedge funds and private equity. The reports were prepared by the expert groups on investment fund market efficiency and alternative investments.
The report on investment fund market efficiency indicated possible ways to make better use of single market freedoms and enhance competitiveness of the industry. The tabled proposals would require carefully targeted amendments to the UCITS Directive to be delivered within three years time.
The report on hedge funds recommends a number of alternative approaches to make hedge funds available to different categories of investors. It stresses the need to remove barriers to investment in hedge funds by institutional investors and to cross-border provision of essential support services to hedge fund managers.
Finally, the report on private equity funds describes the unique role of private equity in nurturing new enterprises and re-energising existing companies. The report highlights a number of cross-cutting EU initiatives that have had unintended consequences for the private equity industry and identifies useful EU-level improvements that could facilitate cross-border investment and capital-raising by private equity funds.
The White Paper is scheduled for November 2006. An open hearing will be held in Brussels on 19 July 2006.
Press release
Overview on reports
Expert group on Investment Fund Market
Efficiency:
Report
Annexes
Expert group on Alternative Investment Funds:
Sub group on Private Equity funds
Sub group on Hedge Funds
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