What is fund type FCP?

What is fund type FCP?

FCP stands for the French expression fonds commun de placement, meaning an open-ended collective investment fund. Like a unit trust in the UK, an FCP is set up in the form of a contract between the fund manager and the investors, in a similar way to a partnership, and is not a separate legal entity in its own right.

What is the difference between a SICAV and a FCP?

The distinction is however more important for the fund initiator than for the investor. As we wrote in our article entitled “How do I invest in a mutual fund … and how do I get out again,” an investment company with variable capital (SICAV) issues shares, while the mutual fund (FCP) issues units.

What is a French FPCI?

A French alternative investment fund reserved for professional investors (“Professional Fund”) is usually structured as a: Fonds Professionnel de Capital Investissement (“FPCI”), which can be established as a mutual fund or as an investment company with variable capital; or.

What is SICAV vs UCITS?

UCITS (Undertakings for Collective Investment in Transferable Securities) are just one type of fund in Luxembourg. They are usually targeted at retail investors and most commonly take the form of a SICAV (Société d’Investissement à Capital Variable), i.e. an investment company with variable capital.

What are UCITS and AIFS?

A CCF can be established as a UCITS fund (Undertakings for Collective Investment in Transferable Securities) or an AIF (Alternative Investment Fund). Tax transparency is the main feature, which differentiates the CCF from other types of Irish funds. The CCF is authorised and regulated by the Central Bank.

How is carried interest taxed in France?

Distributions of French source proceeds (those deriving from dividends) are subject to a domestic withholding tax (at 12.8% for individual investors and 28% for corporate investors) unless the withholding tax is reduced or subject to an exemption under a double tax treaty.

What is a lux fund?

Portfolio information. LUX-EQUITY is a SICAV with eight sub-funds whose investment objective is capital growth in the medium- to long-term through investments in shares in high-quality companies.

Is a SICAV a mutual fund?

A Société d’investissement à Capital Variable, or SICAV fund, is a publicly-traded open-end investment fund structure offered in Europe. SICAV funds are similar to open-end mutual funds in the U.S. Shares in the fund are bought and sold based on the fund’s current net asset value (NAV).

How much tax do you pay on dividends in France?

What is the dividend tax in France? 21% withholding tax applies to the gross amount of dividends paid by investors. The 12,8% withholding tax rate applies to foreign individuals in France, while the 28% tax rate applies to legal entities and private recipients.

Do you pay tax on shares in France?

If you are resident in France you are liable to French taxation on the sale of shares in whichever country they are held. Since January 2018 a single rate tax, called the Prélèvement Forfaitaire Unique – PFU, applies on the sale of shares.

Why do funds set up in Luxembourg?

The long-term stability of the country and ecosystem, coupled with a robust regulatory framework, a credible and reputable regulator and a flexible company law regime are among its key features. Luxembourg has historically catered to the needs of the funds industry spanning from back-office to front office services.

Qu’est-ce que le fonds commun de placement à risques?

A l’origine, le FCPR ( Fonds Commun de Placement à Risques) est un véhicule de placement créé en 1980 pour investir dans des sociétés non cotées. Qu’est-ce que le non coté? Le capital investissement

Quels sont les risques des FCPR?

Les FCPR sont des supports d’investissement présentant des risques importants. Il est en effet possible de perdre tout ou partie du capital versé. Par conséquent, ils s’adressent à des investisseurs qui n’ont pas peur de prendre des risques et qui sont en mesure d’investir des sommes dont l’éventuelle perte n’aura pas d’impact sur leurs finances.

Quels sont les avantages des fonds d’investissement?

Moins contrôlés et moins contraints par la réglementation, ces fonds d’investissement supportent aussi souvent moins de charges et les gérants disposent d’une plus grande latitude de gestion. Cette plus grande souplesse et liberté dont disposent les FPCI peuvent permettre de réaliser de meilleures performances si l’équipe de gestion est compétente.

Qu’est-ce que le capital risque?

Il s’agit d’un organisme collectif collectant des capitaux auprès d’investisseurs, qui sont ensuite réinvestis dans des opérations de capital risque.