Société d'Investissement À Capital Variable - SICAV


DEFINITION of 'Société d'Investissement À Capital Variable - SICAV'

A type of open-ended investment fund in which the amount of capital in the fund varies according to the number of investors. Shares in the fund are bought and sold based on the fund's current net asset value. SICAV funds are some of the most common investment vehicles in Europe.

BREAKING DOWN 'Société d'Investissement À Capital Variable - SICAV'

A SICAV fund, considered a legal entity, will have a board of directors to oversee the fund. Each individual shareholder receives voting rights and has the right to attend the annual general meetings. The term Société d'investissement à Capital Variable is most well known and used in France, Luxembourg, and Italy where it's called Societa' di Investimento a Capital Variable.

  1. Board Of Directors - B Of D

    A group of individuals that are elected as, or elected to act ...
  2. Shareholder

    Any person, company or other institution that owns at least one ...
  3. Net Asset Value - NAV

    A mutual fund's price per share or exchange-traded fund's (ETF) ...
  4. Open-End Fund

    A type of mutual fund that does not have restrictions on the ...
  5. Mutual Fund

    An investment vehicle that is made up of a pool of funds collected ...
  6. Voting Right

    The right of a stockholder to vote on matters of corporate policy ...
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