Investment fund in the legal form of a public limited company, the sole object of which is the investment of collective capital, and that has a level of capital and number of shares outstanding that are flexible rather than specified in advance. The shareholders participate in the company’s assets in accordance with the shares acquired. The company’s assets are managed by the company in accordance with the law and the investment regulations. The custodian bank has a contractual relationship with the SICAV. A SICAV can issue new shares at the net asset value at any time, and investors are in principle entitled to redeem shares at the net asset value at any time. The investor is a shareholder and has membership and proprietary rights.
German: Investmentgesellschaft mit variablen Kapital (SICAV) (442)