A system for pooled investment in securities where investors combine their resources to buy investments together. It is achieved through the medium of unit trusts or investment trusts. The benefit to the small investor is the ability to spread his limited resources over a wider pool of investments, giving the benefit of diversification, and to profit from the expertise of the fund manager running the scheme. Known in the USA as mutual funds. Dresdner Kleinwort Wasserstein financial glossary
See also Undertakings for Collective Investment in Transferable Securities and open-ended investment companies. Dresdner Kleinwort Wasserstein financial glossary
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Savings vehicle based on a collectively held portfolio invested in securities and managed by a professional. In France, collective investment schemes can be incorporated (SICAVs) or unincorporated (FCPs). NYSE Euronext Glossary
Financial and business terms. 2012.