Umbrella fund

From Wikipedia, the free encyclopedia

An umbrella fund is an investment term used to describe a collective investment scheme which is a single legal entity but has several distinct sub-funds which in effect are traded as individual investment funds.

This type of arrangement originated in the European investment management industry, most notably with the SICAV (an open ended collective investment). The SICAV model was copied for the UK OEIC and offshore fund models.

[edit] Advantages

The umbrella fund structure makes it cheaper for investors to move from one sub-fund to another and save the investment manager costs relating to regulatory duplication.

[edit] See also

Other umbrella terms

[edit] References

This article does not cite any references or sources. (September 2007)
Please help improve this article by adding citations to reliable sources. Unverifiable material may be challenged and removed.

v • d • e Investment management

Collective investment scheme structures	Common contractual fund • Fond commun de placement • Investment trust • Unit trust • Mutual fund • ICVC • SICAV • Unit Investment Trust • Exchange-traded fund • Offshore fund • Unitised insurance fund

Investment Styles	Active or Passive management • Value or Growth investing • Hedge fund • Socially responsible investing • Fund of funds • Manager of managers • Index fund

Theory & Terminology	Efficient market hypothesis • Net asset value • Open-end(ed) fund • Closed-end(ed) fund

Related Topics	List of asset management firms • Umbrella fund • UCITS