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.
+{{Box|
+===Not to be confused with AIFs===
+''Compare and contrast '''[[alternative investment fund]]s''' which are regulated under {{tag|AIFMD}}, which are professionals-only funds (hedge funds etc). The regulations are in some ways converging, but there are still a lot of qualitative differences in the types of risks that an [[AIF]] can take compared to a {{tag|UCITS}}.''
-Compare and contrast '''[[alternative investment fund]]s''' which are regulated under {{tag|AIFMD}}, which are professionals-only funds (hedge funds etc). The regulations are in some ways converging, but there are still a lot of qualitative differences in the types of risks that an [[AIF]] can take compared to a {{tag|UCITS}}.
+''See: [[Depositary comparison under AIFMD and UCITS]]''
+}}
+{{tag|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.