TAILIEUCHUNG - REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on European Social Entrepreneurship Funds (Text with EEA relevance)

Distribution Shares are identifiable by a "D" following the sub-fund and Class names (.: Class AD), with the exception of Monthly Distribution Shares which are identifiable by an "M" following the sub-fund and Class names (.: Class AM) and Quarterly Distribution Shares which are identifiable by a "Q" following the sub-fund and Class names (.: Class AQ). In derogation from the above table, Monthly and Quarterly Distribution Shares are available only in certain countries, subject to the relevant regulatory approval, through specific distributors selected by the Distributor. The subscription proceeds of all Shares in a sub-fund are invested in one common underlying portfolio of investments | À EUROPEAN COMMISSION Brussels XXX COM 2011 862 2011 0418 COD Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on European Social Entrepreneurship Funds Text with EEA relevance SEC 2011 1512 sEc 2011 1513 EN EN EXPLANATORY MEMORANDUM 1. CONTEXT OF THE PROPOSAL The principal aim of this proposal is to provide support to the market for social businesses by improving the effectiveness of fundraising by investment funds that target these businesses. Social businesses1 are an emerging sector in the EU. Social businesses are undertakings whose primary objective is to achieve social impacts rather than generate profits for shareholders or other stakeholders. In achieving social impacts social business seeks to build on business techniques - including business finance. While the sector is new it is characterised by rapid growth. According to the Global Enterprise Monitor 2009 report between 3 and of the workforce in selected EU Member States were employed in various forms of social businesses. Social businesses are almost exclusively SMEs. The social mission of social businesses correlates with a strong focus on sustainable or inclusive development and on tackling social challenges across EU societies this means that investment in social businesses are likely to have a greater positive social impact than investment in SMEs more general. Given some estimates such as by J. P. Morgan suggest social investments could grow rapidly to become a market well in excess of EUR 100 billion underlining the potential of this emerging Ensuring this sector continues to grow and flourish would therefore be a valuable contribution to meeting the objectives of the Europe 2020 Strategy. Social businesses derive significant proportions of their funding from grants whether from foundations individuals or from the public sector. As businesses however their sustainable growth depends on drawing on a wider range of investments and financing sources. In this .

• Quỹ đầu tư
• recruiting large
• tax breaks
• financial incentives
• complementary features
• develop and support
• small businesses
• ncreasingly
• economic development
• abandoning traditional