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{{ | {{a|entity|}}A ''[[Besloten Fonds voor Gemene Rekening]]'' (“[[FGR]]”) is a Dutch mutual fund, similar in nature to an Irish [[common contractual fund]] or a French, Belgian or Luxembourgish ''[[fond commun de placement]]'', enabling the assets held on behalf of participants to be managed through a single pool in proportion to the assets or cash subscribed to the pool. Information to be found [https://www.ifcreview.com/articles/2017/september/the-netherlands-a-hybrid-instrument-that-offers-a-closed-fund-for-mutual-account/ here] and [https://www.ipe.com/main-navigation/developments-in-dutch-pooling/50943.article here]. In a nutshell: | ||
The FGR is not a [[legal entity]], but a [[Contract|contractual arrangement]] under Dutch law between the [[investment manager]], [[depositary]] and participants. Each participant in the [[FGR]] is entitled to a pro-rata share of the FGR’s assets and income they generate. | The FGR is not a [[legal entity]], but a [[Contract|contractual arrangement]] under Dutch law between the [[investment manager]], who holds the assets for the risk and account of the participants, and a [[depositary]] and the participants. Each participant in the [[FGR]] is entitled to a pro-rata share of the FGR’s assets and income they generate. | ||
Latest revision as of 16:55, 21 September 2021
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A Besloten Fonds voor Gemene Rekening (“FGR”) is a Dutch mutual fund, similar in nature to an Irish common contractual fund or a French, Belgian or Luxembourgish fond commun de placement, enabling the assets held on behalf of participants to be managed through a single pool in proportion to the assets or cash subscribed to the pool. Information to be found here and here. In a nutshell:
The FGR is not a legal entity, but a contractual arrangement under Dutch law between the investment manager, who holds the assets for the risk and account of the participants, and a depositary and the participants. Each participant in the FGR is entitled to a pro-rata share of the FGR’s assets and income they generate.