Good Practice for Fees and Expenses of Collective Investment Schemes


The term ‘collective investment scheme’ includes authorised or regulated open-ended investment funds that will redeem their units or shares, whether on a continuous or periodic basis. It also includes closed-ended funds whose shares or units are traded on regulated or organised markets. The rules governing the legal form and structure of CIS vary across jurisdictions. This paper is aimed at CIS whose shares or units are permitted to be sold to retail investors. CIS that are intended for professional (wholesale) investors only, such as hedge funds using prime brokers or schemes investing in private equity and venture capital, are not intended to be in this paper’s scope.

Collective Investment Schemes
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