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Information about Sicav

A SICAV is an open-ended collective investment scheme common in Western Europe especially Luxembourg, Switzerland, Italy and France. SICAV is an acronym for Société d'investissement à capital variable which can be translated as investment company with variable capital. As in the case of other open-end collective investment schemes (such as contractual funds), the investor is in principle entitled at all times to request the redemption of his units and payment of the redemption amount in cash.

SICAVs are increasingly being cross-border marketed in the EU under the UCITS directive.

They are very similar to Open-ended mutual funds in the United States

SICAV/Open-end Collective Investment in Switzerland

According to the Swiss Federal Act on Collective Investment Schemes (Collective Investment Schemes Act - CISA), an open-ended collective investment scheme may be in the form of a contractual fund or an investment company with variable capital (SICAV).

With open-ended collective investment schemes, investors have either a direct or indirect legal entitlement, at the expense of the collective assets, to redeem their units at the net asset value.

Each open-ended collective investment scheme has its own fund regulations (often referred to also as Prospectus). Contractual funds are regulated by the collective investment contract (e.g. fund contract). In SICAVs, it is the articles of association and the investment regulations.

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Investment management
Collective investment schemes:  Common contractual funds • Fonds commun de placements • Investment trusts • Hedge funds • Unit trusts • Mutual funds • ICVC • SICAV • Unit Investment Trusts • Exchange-traded funds • Offshore fund • Unitised insurance fund
Styles and theory:  Active management • Passive management • Index fund • Efficient market hypothesis • Socially responsible investing • Net asset value
Related Topics: List of asset management firms • Umbrella fund • Fund of funds • UCITS

A collective investment scheme is a way of investing money with other people to participate in a wider range of investments than may be feasible for an individual investor and to share the costs of doing so.
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Motto
"Mir wëlle bleiwe wat mir sinn"   (Luxembourgish)
"We want to remain what we are"
Anthem
Ons Hémécht
"Our Homeland"
Royal anthem
De Wilhelmus  1
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Motto
Unus pro omnibus, omnes pro uno (Latin) (traditional)[1]
"One for all, all for one"
Anthem
"Swiss Psalm"
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Anthem
Il Canto degli Italiani
(also known as Fratelli d'Italia)


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Motto
Liberté, Égalité, Fraternité
"Liberty, Equality, Fraternity"
Anthem
"La Marseillaise"


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“EU” redirects here. For other uses, see EU (disambiguation).


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mutual fund is a professionally-managed form of collective investments that pools money from many investors and invests it in stocks, bonds, short-term money market instruments, and/or other securities.
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Motto
"In God We Trust"   (since 1956)
"E Pluribus Unum"   ("From Many, One"; Latin, traditional)
Anthem
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The Net Asset Value or NAV is a term used to describe the value of an entity's assets the value of its liabilities. The term is commonly used in relation to collective investment schemes. It may also be used as a synonym for the book value of a firm.
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Prospectus may refer to one of the following,
  • Prospectus (finance)
  • Prospectus (university)

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A collective investment scheme is a way of investing money with other people to participate in a wider range of investments than may be feasible for an individual investor and to share the costs of doing so.
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Investment or investing[1] is a term with several closely-related meanings in business management, finance and economics, related to saving or deferring consumption.
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worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page.
Financial services is a term used to refer to the services provided by the finance industry.
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Investment management is the professional management of various securities (shares, bonds etc) assets (e.g. real estate), to meet specified investment goals for the benefit of the investors. Investors may be institutions (insurance companies, pension funds, corporations etc.
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A collective investment scheme is a way of investing money with other people to participate in a wider range of investments than may be feasible for an individual investor and to share the costs of doing so.
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common contractual fund (or “CCF”).

The CCF is an unincorporated body established by a management company under which the participants by contractual arrangements participate and share in the property of the fund as co-owners (specifically tenants in common).
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Fonds commun de placement translates to "Pooled funds", and are open-ended collective investment funds based that are neither trust of company law based. They are similar to Common contractual funds in Ireland.

Commonly referred to as FCP or F.C.P.
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Investment trusts are companies that invest in the shares of other companies for the purpose of acting as a collective investment.

Investors' money is pooled together from the sale of a fixed number of shares a trust issues when it launches.
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A hedge fund is an investment fund structured to avoid direct regulation and taxation in major host countries and which charges a performance fee based on the increase of the value of the fund's assets.
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For UIT, a U.S. fund type, see .
A unit trust is a form of collective investment constituted under a trust deed.

Found in the UK, Ireland, Australia, New Zealand, South Africa and British Isles offshore jurisdictions, unit trusts offer access to
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mutual fund is a professionally-managed form of collective investments that pools money from many investors and invests it in stocks, bonds, short-term money market instruments, and/or other securities.
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An ICVC or Investment Company with Variable Capital is a type of open ended collective investment formed as a corporation under the Open-Ended Investment Companies Regulations of the United Kingdom.
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For the UK fund type, see .
A Unit Investment Trust (UIT) is a US investment company offering a fixed (unmanaged) portfolio of securities having a definite life. UITs are assembled by a sponsor and sold through brokers to investors.
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Exchange-traded funds (or ETFs) are Open Ended investment companies that can be traded at any time throughout the course of the day. Typically, ETFs try to replicate a stock market index such as the S&P 500 (e.g.
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An offshore fund is a collective investment scheme domiciled in an Offshore Financial Centre, for example British Virgin Islands, Luxembourg, Cayman Islands or Dublin. For the purposes of the Income and Corporation Taxes Act 1988 of the UK, an offshore fund is one which is governed
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Unitised insurance funds are a form of collective investment offered through life assurance policies.

Mainly found in the UK and British Isles offshore jurisdictions, both single premium and regular premium policies offer access to wide range and types of assets for all
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Active management (also called active investing) refers to a portfolio management strategy where the manager makes specific investments with the goal of outperforming a benchmark index.
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Passive management (also called passive investing) is a financial strategy in which a fund manager makes as few portfolio decisions as possible, in order to minimize transaction costs, including the incidence of capital gains tax.
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An index fund or index tracker is a collective investment scheme (usually a mutual fund) that aims to replicate the movements of an index of a specific financial market, or a set of rules of ownership that are held constant, regardless of market conditions.
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In finance, the efficient market hypothesis (EMH) asserts that financial markets are "informationally efficient", or that prices on traded assets, e.g., stocks, bonds, or property, already reflect all known information and therefore are unbiased in the sense that they reflect the
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