UCITS (Commitmentss for Collective Investments in Transferable Securities)

A UCITS is the structure that enables collective asset management of a portfolio of securities : it covers SICAV (open-ended investment companies), FCP (mutual funds) and FCPE (collective employee shareholding plans). Their rules of management and technical characteristics are identical. Only their legal form differs.

UCITS with streamlined investment rules (UCITS ARIA)

UCITS set up under the French Financial Security Law of 1 August 2003 are subject to approval by the French Financial Markets Authority unlike simplified procedure UCITS. These UCITS, access to which depends on the profile of the investor or an entry cost, fall into 3 categories:

- UCITS ARIA without leverage effect
- UCITS ARIA with leverage effect
- UCITS of alternative funds

Unit

A unit is the smallest whole separable part of an FCP. Its price is calculated periodically and is represented by Net Asset Value (NAV).