Fonds commun de placement
Encyclopedia
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. They are similar to Common contractual fund
s in Ireland.
In France, commonly referred to as FCP or F.C.P., these financial instruments are collective investments that are similar to the Sicav
; both exist alongside one another. They aren't investment companies
; they're more like open partnerships. They have no independent legal status but exist as a set of defined relationships between investors, managers and custodian. They invest in different financial instruments
, but they do not have the tax status of the SICAV
.
They are typically issued in the French-speaking
countries of Europe
.
Common contractual fund
A Common Contractual Fund is a new collective investment scheme structure in Ireland introduced by the European Communities UCITS Regulations, 2003....
s in Ireland.
In France, commonly referred to as FCP or F.C.P., these financial instruments are collective investments that are similar to the Sicav
SICAV
A SICAV is an open-ended collective investment scheme common in Western Europe, especially Luxembourg, Switzerland, Italy, Spain, Belgium and France...
; both exist alongside one another. They aren't investment companies
Investment company
An investment company is a company whose main business is holding securities of other companies purely for investment purposes. The investment company invests money on behalf of its shareholders who in turn share in the profits and losses....
; they're more like open partnerships. They have no independent legal status but exist as a set of defined relationships between investors, managers and custodian. They invest in different financial instruments
Financial instruments
A financial instrument is a tradable asset of any kind, either cash; evidence of an ownership interest in an entity; or a contractual right to receive, or deliver, cash or another financial instrument....
, but they do not have the tax status of the SICAV
SICAV
A SICAV is an open-ended collective investment scheme common in Western Europe, especially Luxembourg, Switzerland, Italy, Spain, Belgium and France...
.
They are typically issued in the French-speaking
French language
French is a Romance language spoken as a first language in France, the Romandy region in Switzerland, Wallonia and Brussels in Belgium, Monaco, the regions of Quebec and Acadia in Canada, and by various communities elsewhere. Second-language speakers of French are distributed throughout many parts...
countries of Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
.