14/09/2011 EuroInvestors reply to the EC Consultation on the Social Business Initiative: Promoting social investment funds'EuroInvestors welcomes the European Commission’s consultation on Social Investment Funds. As far as retail investors are concerned, similar retail funds already exist throughout Europe, like the “fonds solidaires” in France. The key challenges to effectively promote retail investments in social businesses will be to: define very clearly and precisely what social businesses are: the EC proposed definition is not precise enough and diverges from other existing definitions; have a neutral control on the reality of the “social” nature of any business claiming it.; grant investor information and protection rules as close as possible to those provided by MiFID and by UCITS IV Directives; have an independent and trusted rating of such funds; simplify and clarify the offerings in this field instead of just adding yet another category of retail investments of which there are already too many, creating a lot of confusion in retail investors minds; especially the difference with SRI funds must be very clearly spelled out.

Position paper:
EFI reply on Social Business Initiative consultation1317736808.pdf