Transferable Securities And Money Market Instruments

As the UCITS acronym suggests, its original focus was on investment in "transferable securities" although UCITS do offer far wider investment possibilities, as explained below. Additionally, a primary UCITS focus has been on "money market instruments". Although the full definitions of both terms are set out in Appendix A, we have highlighted the key elements of both below, particularly given the clarifications provided in 2007 by the Eligible Assets Directive.

A. Transferable Securities

1. UCITS Definitions
   
   The term "transferable securities" is defined as follows:
   
   
   • shares in companies and other securities equivalent to shares in companies ("shares");
   • bonds and other forms of securitised debt ("debt securities");