UCITS: Difference between revisions
Jump to navigation
Jump to search
Amwelladmin (talk | contribs) (Created page with "===See Also=== *UCITS fair value *UCITS liquid financial assets *UCITS daily valuation *{{tag|UCITS}}") |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 1: | Line 1: | ||
From Article 1(2) of [http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CONSLEG:1985L0611:20080320:EN:PDF Council Directive (85/611/EEC)] of 20 December 1985 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities ({{tag|UCITS}}) | |||
{{box|For the purposes of this Directive, and subject to Article 2, {{tag|UCITS}} shall be undertakings: | |||
*the sole object of which is the collective investment in transferable securities and/or in other [[UCITS liquid financial assets|liquid financial assets]] referred to in [[UCITS liquid financial assets|Article 19(1)]] of capital raised from the public and which operates on the principle of risk-spreading and | |||
*the units of which are, at the request of holders, re-purchased or redeemed, directly or indirectly, out of those undertakings' assets. Action taken by a {{tag|UCITS}} to ensure that the [[stock exchange]] value of its units does not significantly vary from their net asset value shall be regarded as equivalent to such re-purchase or redemption.}} | |||
===See Also=== | ===See Also=== | ||
*[[UCITS fair value]] | *[[UCITS fair value]] | ||
Revision as of 11:04, 8 May 2013
From Article 1(2) of Council Directive (85/611/EEC) of 20 December 1985 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS)
- For the purposes of this Directive, and subject to Article 2, UCITS shall be undertakings:
- the sole object of which is the collective investment in transferable securities and/or in other liquid financial assets referred to in Article 19(1) of capital raised from the public and which operates on the principle of risk-spreading and
- the units of which are, at the request of holders, re-purchased or redeemed, directly or indirectly, out of those undertakings' assets. Action taken by a UCITS to ensure that the stock exchange value of its units does not significantly vary from their net asset value shall be regarded as equivalent to such re-purchase or redemption.