Examples of using Eusef in English and their translations into German
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ECO/413- opinion on Amendment EuVECA and EuSEF.
EuSEF manager' means a legal person whose regular business is managing at least one EuSEF;
The new European Social Entrepreneurship Funds EuSEF.
In this respect, Article 5 contains uniform rules on the investment targets for EuSEF, eligible investment tools, rules on the limits by which a EuSEF manager can increase its exposure.
The EESC therefore expects there to be close coordination in connection with the new direction of EuVECA and EuSEF.
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Essentially, these definitions aim to draw a clear demarcation line between a EuSEF and other funds which may pursue similar investment strategies but which are not targeting social undertakings.
Require information from any person related to the activities of the EuSEF manager or the EuSEF;
The European Venture Capital Funds(EuVECA)and European Social Entrepreneurship Funds(EuSEF) regulations set up two new types of collective investment funds to make it easier and more attractive for investors to invest in unlisted SMEs.
Due to the complexity of this subject, the EESC recommends that the methods developed for the EuSEF and PESI as a first step are piloted.
EuSEF managers shall employ for each EuSEF they manage procedures to measure and monitor the extent to which the qualifying portfolio undertakings, in which the EuSEF invests, achieve the positive social impact that they are committed to.
The rapid implementation of measures to strengthen venture capital and entrepreneurship funds in Europe,such as the revision of EuVECA and EuSEF.
The EESC calls for the development of the Europeanventure capital funds(EuVECA) and the European social entrepreneurship funds(EuSEF) and points out that investor protection must be guaranteed.
Impact assessment on Proposal for a Regulation amending Regulation(EU) No 345/2013 on European venture capital funds(EuVECA)and Regulation 346/2013 on European social entrepreneurship funds EuSEF.
Points out that the methods developed for the EuSEF and PESI Regulations should be piloted, closely monitored and revised if needed, to ensure that they do not hinder social enterprises' access to finance through these instruments.
These specialist venture capital investment funds have been available since 2013 butonly a small number of funds set up as EuVECA and EuSEF have so far been launched.
The Commission is therefore amending the framework of the EuVECA and the EuSEF even before the planned review(2017) to ensure that they- in coordination with other measures- do more to support venture capital and social investment throughout the EU.
Committed capital' means any commitment pursuant to which a person is obligated to acquire an interest in the EuSEF or make capital contributions to the EuSEF;
To increase the number of EuVECA and EuSEF managers, funds, and assets under management through opening up the management of EuVECA and EuSEF funds to large asset managers, i.e. those authorised under the Alternative Investment Fund Managers Directive 2011/61/EU;
Registration of qualifying social entrepreneurship funds under paragraphs 1, 2 and 3 shall be valid in the entire territory of the Union andshall allow marketing of those funds under the designation‘EuSEF' throughout the Union.
A pre-requisite for an EU method of measuringsocial impact in the current EU context(EuSEF and PESI), is stakeholder participation which primarily include social enterprises, users, policy-makers, finance providers as well as social service providers, public authorities and social partners where appropriate.
The standard, featured in a report on social impact measurement, will help European social enterprises to benefit fromfunding via the European Social Entrepreneurship Funds(EuSEF) and the new Employment and Social Innovation programme EaSI.
In line with the aim of precisely circumscribing the funds under this Regulation, Article 3, paragraph 1(a)stipulates that a EuSEF shall be a fund that dedicates at least 70 percent of its aggregate capital contributions and uncalled committed capital to investments that are qualifying portfolio undertakings.
The overall objective of the proposals is to foster the growth of SMEs by improving their access to finance through the establishment of an EU-wide passport to venture capital fund(EuVECA)and social entrepreneurship fund(EuSEF) managers in relation to the marketing of their funds.
The European venture capital funds("EuVECA")and European social entrepreneurship funds("EuSEF") fund structures were created to offer new opportunities for market participants to raise and invest capital in innovative small and medium-sized enterprises("SMEs") and social undertakings throughout Europe.
Moreover, diverging quality requirements on portfolio composition, investment targets and eligible investors could lead to different levels of investor protection and generate confusion as to the investment propositionassociated with a European Social Entrepreneurship Fund EuSEF.
ESMA shall maintain a central database, publicly accessible on the internet, listing all managers of qualifyingventure capital fund using the designation'EuSEF' and the qualifying social entrepreneurship funds for which they use it, as well as the countries in which those funds are marketed.”;
Articles 5 and 6, 10, 13(2), points(d),(e) and(f) of Article 14(1) and Article 15a of this Regulation shall apply to managers of collective investment undertakings authorised under Article 6 of Directive 2011/61/EU that manage portfolios of qualifying social entrepreneurship funds andintend to use the designation‘EuSEF' in relation to the marketing of those funds in the Union.”.
In this respect, the ECB welcomes the reference in the proposed regulations to the threshold in Directive 2011/61/EU(10), which introduces a limit of EUR 500 million of capital funds that woulddelineate the European venture capital funds and EuSEF regimes from the framework established by Directive 2011/61/EU.