Definition
Type of fund that invests at least 70% of its capital in companies whose primary objective is to achieve a positive and measurable social impact, that are responsibly and transparently managed, and whose shares are not admitted to trading on a regulated market or multilateral trading system at the investment date.
Further information
Regulation (EU) No 346/2013 of the European Parliament and of the Council of 17 April 2013 on European social entrepreneurship funds, in its definition of these entities, does not make the distinction between actual funds (separate assets that, lacking legal personality, must be represented and managed by a management company) and companies, as is common in Spanish regulation. Thus, although reference is made here to ''funds,'' these entities can adopt either of these two legal forms.
These entities are included in the ‘non-MMF investment funds’ subsector, S.124 in the European System of Accounts 2010.
Related concepts
References
- Sectorisation table (European System of Accounts 2010).
- European System of Accounts 2010. Interactive version.
Legal frame
Update date: May 2025
