Fonds commun de placement translates to "investment funds" or "mutual funds", and are open-ended

collective investment An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These advantages inc ...

funds based that are neither trust or company law based. They are similar to common contractual funds in Ireland, tax transparent funds in the UK and "fondsen voor gemene rekening" in the Netherlands. In France, commonly referred to as FCP or F.C.P., these financial instruments are collective investments that are similar to the

SICAV A SICAV is a collective investment scheme common in Western Europe, especially Luxembourg, Switzerland, Italy, Spain, Belgium, Malta, France, and the Czech Republic. SICAV is an acronym in French for ''société d'investissement à capital variabl ...

. They are not investment companies; they are more like open partnerships. They have no independent legal status but exist as a set of defined relationships between investors, managers and custodian. They invest in different

financial instruments Financial instruments are monetary contracts between parties. They can be created, traded, modified and settled. They can be cash (currency), evidence of an ownership interest in an entity or a contractual right to receive or deliver in the form ...

, but they do not have the tax status of the SICAV. They are typically issued in the French-speaking countries of

Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a subcontinent of Eurasia and it is located entirel ...

References

{{Investment-management Investment funds

See also

References