SICAV

A Société d’Investissement à Capital Variable or SICAV is a common type of open-ended collective investment scheme, an investment fund found in France and other Francophile jurisdictions (notably Luxembourg, Belgium, Switzerland, and so on).

It is formed in the form of a public limited company (PLC., SA), or it may be in the form of a partnership limited by shares. Its share capital is variable and the value of which at any time matches the value of the net assets of the fund.

Compare with

• SICAF, of closed-ended collective investment fund.