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UCITS: Difference between revisions
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UCITS - or "[[undertakings for the collective investment in transferable securities]]" - are regulated European investment funds, generally aimed at retail investors. {{tag|UCITS}} funds must meet strict criteria as to how they are set up, managed and marketed, and as to the portfolio of asset a {{tag|UCITS}} fund is allowed to invest in: There are concentration limits and other criteria which ensure diversity of risk; assets must be liquid, there should be very limited use of [[leverage]] and the fund must ensure it has diverse exposure to trading counterparties, banks and so on. | UCITS - or "[[undertakings for the collective investment in transferable securities]]" - are regulated European investment funds, generally aimed at retail investors. {{tag|UCITS}} funds must meet strict criteria as to how they are set up, managed and marketed, and as to the portfolio of asset a {{tag|UCITS}} fund is allowed to invest in: There are concentration limits and other criteria which ensure diversity of risk; assets must be liquid, there should be very limited use of [[leverage]] and the fund must ensure it has diverse exposure to trading counterparties, banks and so on. | ||
The most recent UCITS legislation is {{tag|UCITS V}}, ({{eudirective|2014|91|EU}. | The most recent UCITS legislation is {{tag|UCITS V}}, ({{eudirective|2014|91|EU}}). | ||
From Article 1(2) of {{eudirective|85|611|EEC}} [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}}) | From Article 1(2) of {{eudirective|85|611|EEC}} [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}}) | ||