Closed-Ended Investment Funds
This is an investment fund with a limited number of shares that can be purchased over a limited period of time.
Abbreviation of Fonds commun de placement. FCPs are open-ended collective investment instruments in equities (stocks, bonds, monetary assets, etc.); their shareholders are co-owners.
This means for net asset value per share. The NAV measures an investment fund’s assets by totaling the market value of all securities owned. All liabilities are deducted, and the balance divided by the number of shares outstanding. The resulting figure is the net asset value per share. NAV is typically published every trading day (or at another frequency as described the fund’s prospectus.)
Open-ended Investment Fund
An investment fund that is run by a fund management company and is obliged to buy or to issue shares when requested. The value of the fund is in principal equal to the value of the underlying shares. As more people invest, the number of units or shares increases.
Abbreviation of Société d’investissement à capital variable. A Sicav is an open-ended collective investment fund that invests in equities and whose shareholders own parts of the fund, which is a registered company.
An open-ended collective instrument invested in securities, constituted under a trust deed, which exists in the UK and Ireland.
Indicator measuring the change of an asset’s price variation over a period of time. Volatility is a risk indicator enabling to measure a fund’s risk level. An with high volatility, indicates great potential for gain, but also risk of loss.