Thursday, January 6, 2011

SICAV

A SICAV, or Sociétés d'investissement à Capital Variable, is a form of open-ended investment company. The term and structure are used commonly in Western Europe, especially Luxembourg, Switzerland, Italy, Spain, Belgium, and France. A SICAV is similar to an open-ended mutual fund in the US, or a unit trust in the UK. The term variable refers to the open-ended nature of the investment vehicle, shares in this type of fund are bought and sold based on the fund's NAV.

Synonyms: Sociétés d'investissement à Capital Variable

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