ESMA_QA_1040
11/11/2014
Subject Matter
Management of EuSEF and EuVECA by AIFMs
    Can EuSEF and EuVECA managers that subsequently exceed the threshold of Article 3(2)(b) of the AIFMD set up new EuSEF and EuVECA funds once the threshold is exceeded?
    ESMA Answer
    11-11-2014

      [ESMA 34-36-253 AIFMD Q&A, 1a]

      Yes.

      In accordance with Article 2(2) of the Regulations, EuSEF and EuVECA managers that subsequently exceed the threshold in Article 3(2)(b) of the AIFMD have to seek authorisation in accordance with the AIFMD and comply with the AIFMD requirements. These managers can continue using the EuSEF and EuVECA denomination in relation to the marketing of qualifying funds under the conditions set out in subparagraphs (a) and (b) of Article 2(2) of the Regulations. The Regulations, therefore, do not prohibit the managers in this situation from setting up and marketing new funds under the EuSEF and EuVECA denominations.

      Status: Answer Published

      Additional Information

      Level 1 Regulation
      European Social Entrepreneurship Funds Regulation (EuSEF) Regulation (EU) No 346/2013
      Topic
      EuSEF