Collective investment scheme
An investment vehicle pooling assets from investors and managing them collectively for their account under defined rules.
A collective investment scheme pools capital from multiple investors and invests it collectively, usually according to a fund contract, articles or investment regulations. Swiss law distinguishes forms such as contractual funds, SICAVs, limited partnerships for collective investment and SICAFs, with regulation depending on structure, investor category and distribution. These schemes spread risk and allow professional management, but investors bear market and product risks. Authorisation, approval, custody, valuation, disclosure and supervision requirements are central, especially where products are offered to non-qualified investors.