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Using Open-End Mutual Fund Resources to Finance SMEs: The Potential Market Share of ELTIFs

In: Access to Bank Credit and SME Financing

Author

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  • Fabrizio Crespi

    (University of Cagliari)

Abstract

The Italian asset management sector is in a rather favourable period, and open-end mutual fund AUM levels have reached a record value of 818 billion euro (+95% from 2011 to 2015). This increasing demand for open-end mutual funds from retail investors has been motivated by a search for more interesting returns under conditions of mostly zero/negative interest rates and by the decreasing dependence of commercial banks on bond funding. However, how much of these financial resources are used by mutual funds to finance SMEs? This topic should be of great interest to researchers and authorities, especially in the current period of credit-crunching and with the birth of a new investment vehicle, ELTIFs, which are specifically designed to stimulate SME financing.

Suggested Citation

  • Fabrizio Crespi, 2017. "Using Open-End Mutual Fund Resources to Finance SMEs: The Potential Market Share of ELTIFs," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Stefania Rossi (ed.), Access to Bank Credit and SME Financing, chapter 11, pages 287-311, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-319-41363-1_11
    DOI: 10.1007/978-3-319-41363-1_11
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    Cited by:

    1. Pop Izabela Luiza & Hordău Anne Marie, 2017. "Financial Investments in Romania. A Comparative Analysis between Open-end Mutual Funds and Bank Deposits," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 620-626, December.

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