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An umbrella fund is a collective investment scheme that exists as a single legal entity but has several distinct sub-funds which, in effect, are traded as individual investment funds. [1] In UK law, the concept is defined in Section 756B of the Finance Act 2004 [ 2 ] and is central to the structuring, taxation and regulation of small funds ...
An OFC may be created as an umbrella fund consisting of a number of separately pooled sub-funds. Operationally, each sub-fund will be distinct, and the assets of each sub-fund will be managed according to the investment management policies and objectives specific to that sub-fund.
For projects that have their own foundation or are part of an umbrella organization, the primary goal is often to provide a mechanism to fund development of the software. Most of these groups are structured as nonprofit–charity organizations. This list includes no businesses that aim to make money from free and open-source software.
A board of directors usually headed by the authorised corporate director (ACD) – An ACD is a FCA authorised firm that assumes full control of the board. The board's responsibilities include: dealing with the day-to-day operation of the company, managing the company's investments, buying and selling the OEIC's shares on demand, and ensuring accurate pricing of shares at net asset value.
The Undertakings for Collective Investment in Transferable Securities Directive (Directive 2009/65/EC, "UCITS") [1] is a EU directive that allows collective investment schemes to operate freely throughout the EU on the basis of a single authorisation from one member state.
Open-end fund (or open-ended fund) is a collective investment scheme that can issue and redeem shares at any time. An investor will generally purchase shares in the fund directly from the fund itself, rather than from the existing shareholders.
This page was last edited on 14 September 2019, at 10:31 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
An umbrella organization is an association of (often related, industry-specific) institutions who work together formally to coordinate activities and/or pool resources. In business, political, and other environments, it provides resources and identities to the smaller organizations.