The Commission has published a working paper exploring whether it can make it easier for EU investment funds to target “social businesses” (those targeting social, ethical or environmental goals as their primary corporate objective), while also helping investors to access these funds. It looks at the potential limitations of the current regime for Undertakings for Collective Investment in Transferable Securities (UCITS) in targeting retail investment, specifically because the UCITS regime places limits on diversification and concentration of risk. It then looks at the opportunities for the regime under the Alternative Investment Fund Managers Directive (AIFMD) to target professional investors. It also addresses the current consultation on a potential alternative regime for venture capital funds. The consultation sets out some conditions for a potential regime that would allow retail investors access to social investment funds without damaging investor protection. It asks for comments by 14 September. (Source: Consultation on Promoting Social Investment Funds)