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By Dr. Sebastiaan Niels HOOGHIEMSTRA, Loyens Loeff Luxembourg*
Recently, the Council and Parliament reached consensus on the final revised text that will overhaul Regulation (EU) 2015/760 (“ELTIFR 2”). ELTIFR 2, amongst others, revises the rules applicable to eligible assets and investments, liquidity management and the distribution to retail investors. In doing so, ELTIFR 2 clearly distinguishes between European long-term investment funds (“ELTIFs”) that are marketed to “professional investors” and “retail investors”, including high-net-worth individuals (“HWNI”). ELTIFR 2 perfectly fits into the “retailization” trend of the past two years. This contribution, therefore, provides an overview of ELTIFR 2 with a particular focus on “retailization” aspects....
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