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ARTICLE · 29 SEPTEMBER 2011

Mutual Funds In Cyprus: Open Ended (UCITSS) And Closed Ended (ICIS)

Soteris Pittas & Co L.L.C
Soteris Pittas & Co L.L.C
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Soteris Pittas & Co L.L.C

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The OPEN-ENDED FUNDS or OPEN-ENDED UNDERTAKINGS FOR COLLECTIVE INVESTMENT IN TRANSFERABLE SECURITY ("UCITS"), are regulated by the Law 200(1)/2004.

CyprusFinance and Banking
Soteris Pittas
Soteris Pittas
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The OPEN-ENDED FUNDS or OPEN-ENDED UNDERTAKINGS FOR COLLECTIVE INVESTMENT IN TRANSFERABLE SECURITY ("UCITS"), are regulated by the Law 200(1)/2004.

The Closed-Ended Funds or International Collective Schemes ("ICIS") are regulated by the Law 47(1)/1999.

OPEN-ENDED FUNDS ("UCITS")

The capital of the Open-ended Fund, is divided into equal value of units, or shares, whose net value, changes in accordance with the alterations of the net asset value of the Fund.

By the admission of new investors in the Open-ended Fund, the number of units is increased, as well as its capital, and by the redemption of units, the number of units is decreased and always the value of the units, depends on the value of the capital of the Fund.

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