1. Glossary > Legal & Compliance
  2. SICAV

SICAV stands for Société d’Investissement à Capital Variable, or investment company with variable capital (also known as an ‘open-ended investment company’) and which issues shares. With SICAVs, the fund itself is a stock corporation and thus a legal entity. The company’s capital depends on the amounts paid in by investors. Shares in a SICAV are bought and sold on the basis of the value of the fund’s assets, or net asset value. In accordance with applicable law and regulations, a SICAV can either appoint a separate management company or can be self-managed. (Adapted from the ALFI – Association of the Luxembourg Fund Industry – website.)

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