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Umbrella Fund

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Umbrella Fund
An umbrella fund - sometimes known as a 'fund of funds' - is an investment fund that invests in other funds rather than in direct investments.
    
An umbrella fund is an investment term used to describe a collective investment scheme which is a single legal entity but has several distinct sub-funds which in effect are traded as individual investment funds.
    
This type of arrangement originated in the European Investment management industry, most notably with the SICAV (an Open ended collective investment). The SICAV model was copied for the UK OEIC and offshore fund models.
    
The umbrella fund structure makes it cheaper for investors to move from one sub-fund to another and save the investment manager costs relating to regulatory duplication.
Posted by  Privatebanking.com
 
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