Investment fund

collective investment schemeinvestment fundsinvestment vehiclefundcollective investmentfundsmanaged investment schemecollective investment fundcollective investment schemesinvestment product
An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group.wikipedia
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Mutual fund

mutual fundsfundmutual
An investment fund may be held by the public, such as a mutual fund, exchange-traded fund, special-purpose acquisition company or closed-end fund, or it may be sold only in a private placement, such as a hedge fund or private equity fund.
A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities.

Exchange-traded fund

ETFETFsexchange-traded funds
An investment fund may be held by the public, such as a mutual fund, exchange-traded fund, special-purpose acquisition company or closed-end fund, or it may be sold only in a private placement, such as a hedge fund or private equity fund.
An exchange-traded fund (ETF) is an investment fund traded on stock exchanges, much like stocks.

Special-purpose acquisition company

special purpose acquisition companySpecial Purpose Acquisition Companiesblank check company
An investment fund may be held by the public, such as a mutual fund, exchange-traded fund, special-purpose acquisition company or closed-end fund, or it may be sold only in a private placement, such as a hedge fund or private equity fund.
A special purpose acquisition company (SPAC) is a type of investment fund that allows public stock market investors to invest in private equity type transactions, particularly leveraged buyouts.

Hedge fund

hedge fundshedge fund managerhedge-fund
An investment fund may be held by the public, such as a mutual fund, exchange-traded fund, special-purpose acquisition company or closed-end fund, or it may be sold only in a private placement, such as a hedge fund or private equity fund.
A hedge fund is an investment fund that pools capital from accredited individuals or institutional investors and invests in a variety of assets, often with complex portfolio-construction and risk-management techniques.

Private equity fund

private equity fundsprivate equityBuyout fund
An investment fund may be held by the public, such as a mutual fund, exchange-traded fund, special-purpose acquisition company or closed-end fund, or it may be sold only in a private placement, such as a hedge fund or private equity fund.
A private equity fund is a collective investment scheme used for making investments in various equity (and to a lesser extent debt) securities according to one of the investment strategies associated with private equity.

Open-end fund

open-endedopen-endopen-ended funds
An open-end fund is equitably divided into shares which vary in price in direct proportion to the variation in value of the fund's net asset value.
Open-end fund (or open-ended fund) is a collective investment scheme that can issue and redeem shares at any time.

Fund administration

administratorfund administratorFund Administrators
A fund administrator who manages the trading, reconciliations, valuation and unit pricing.
Fund administration is the name given to the set of activities that are carried out in support of the actual process of running a collective investment scheme, whether the scheme is a traditional mutual fund, a hedge fund, Pension fund, unit trust or something in between.

Investment management

portfolio managementasset managementinvestment manager
A fund manager or investment manager who manages the investment decisions.
Investors may be institutions (insurance companies, pension funds, corporations, charities, educational establishments etc.) or private investors (both directly via investment contracts and more commonly via collective investment schemes e.g. mutual funds or exchange-traded funds).

Net asset value

NAVNet Asset Value (NAV)book value
An open-end fund is equitably divided into shares which vary in price in direct proportion to the variation in value of the fund's net asset value. The net asset value or NAV is the value of a vehicle's assets minus the value of its liabilities.
The NAV of a collective investment scheme (such as a U.S. mutual fund or a hedge fund) is calculated by reference to the total value of the fund's portfolio (its assets) less its accrued liabilities (money owed to lending banks, fees owed to investment managers and service providers and other liabilities).

Nicola Horlick

*In 1998 Richard Branson (head of Virgin) publicly bet Nicola Horlick (head of SG Asset Management) that her SG UK Growth fund would not beat the FTSE 100 index, nor his Virgin Index Tracker fund over three years, nor achieve its stated aim to beat the index by 2% each year.
Nicola Karina Christina Horlick (née Gayford; born 28 December 1960) is a British investment fund manager.

Closed-end fund

closed-endclosed-endedclosed end funds
An investment fund may be held by the public, such as a mutual fund, exchange-traded fund, special-purpose acquisition company or closed-end fund, or it may be sold only in a private placement, such as a hedge fund or private equity fund.
Collective investment schemes for generic information.

Trust law

trusttrust fundtrusts
Collective investment vehicles may be formed under company law, by legal trust or by statute.
Unit trust: A trust where the beneficiaries (called unitholders) each possess a certain share (called units) and can direct the trustee to pay money to them out of the trust property according to the number of units they possess. A unit trust is a vehicle for collective investment, rather than disposition, as the person who gives the property to the trustee is also the beneficiary.

Sovereign wealth fund

sovereign wealth fundsNational Wealth FundSovereign fund
Sovereign investment funds
A sovereign wealth fund (SWF) or sovereign investment fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds.

Investment trust

trustinvestment truststrusts
Investment Trusts—Introduced 1868. Closed-ended with corporate structure.
An investment trust is a form of collective investment found mostly in the United Kingdom.

Open-ended investment company

OEICsopen-ended investment companiesICVC
Open-ended investment companies (OEICs or ICVCs)—Introduced 1997. Open-ended with a corporate structure.
) or investment company with variable capital (abbreviated to ICVC) is a type of open-ended collective investment formed as a corporation under the Open-Ended Investment Company Regulations 2001 in the United Kingdom.

Unit trust

unit trusts
Unit Trusts—Introduced 1931. Open-ended with a trust structure.
A unit trust is a form of collective investment constituted under a trust deed.

Tax transparent fund

Tax transparent funds—Introduced 2013.
A Tax Transparent Fund (TTF) is the proposed authorised collective investment scheme structure in the United Kingdom once the UK Finance Bill 2012 becomes an act and when the Financial Services and Markets Act 2000 and the Corporation Tax Act 2010 are amended, sometime mid-2012.

Common contractual fund

Common contractual fund ("CCF")
A common contractual fund (CCF) is a new collective investment scheme structure in Ireland introduced by the European Communities UCITS Regulations, 2003.

Asset management

fund managerasset managerfund management
Alpha represents the fund's return when the benchmark's return is 0. This shows the fund's performance relative to the benchmark and can demonstrate the value added by the fund manager. The higher the 'alpha' the better the manager. Alpha investment strategies tend to favour stock selection methods to achieve growth.
The most common usage of the term "asset manager" refers to investment management, the sector of the financial services industry that manages investment funds and segregated client accounts.

Unitised insurance fund

unit-linkedUnitised Insurance Funds
Unitised Insurance Funds—Introduced 1970s. Open-ended with a life policy structure.
Unitised insurance funds or unit-linked insurance funds are a form of collective investment offered life assurance policies.

SICAV

SICAV- société d’ investissement à capital variable
SICAVs
A SICAV is an open-ended collective investment scheme common in Western Europe, especially Luxembourg, Switzerland, Italy, Spain, Belgium, Malta, France, and the Czech Republic.

Undertakings for Collective Investment in Transferable Securities Directive 2009

UCITSEuropean UCITSUCITS fund
The Undertakings for Collective Investment in Transferable Securities Directives 85/611/EEC, as amended by 2001/107/EC and 2001/108/EC (typically known as UCITS for short) created an EU-wide structure, so that funds fulfilling its basic regulations could be marketed in any member state.
The Undertakings for Collective Investment in Transferable Securities Directive 2009/65/EC is a consolidated EU Directive, that allows collective investment schemes to operate freely throughout the EU on the basis of a single authorisation from one member state.

Passive management

passive investmentpassively managedpassive investing
Passive management—Passive managers stick to a portfolio strategy determined at outset of the fund and not varied thereafter, aiming to minimize the ongoing costs of maintaining the portfolio.
Investment funds that employ passive investment strategies to track the performance of a stock market index are known as index funds.

Fonds commun de placement

FCP- Fond commun de placement
FCP (Fonds commun de placement) (unincorporated investment fund or common fund)
Fonds commun de placement translates to "investment funds" or "mutual funds", and are open-ended collective investment funds based that are neither trust or company law based.

Fund governance

Asset Services
Fund governance
Fund governance refers to a system of checks and balances and work performed by the governing body (board) of an investment fund to ensure that the fund is operated in the best interests of the fund and its investors.