Definition of umbrella fund in English:
An offshore investment fund which invests only in other investment funds.
- Fund supermarkets offer an umbrella fund for investors which invests in a range of other funds at their discretion.
- Although not specifically defined in the Pension Funds Act (the Act), an umbrella fund is a separate legal entity, registered with NAMFISA and subject to the provisions of the Act.
- Each umbrella fund may also have a number of subfunds that incur legal fees of approximately another €10,000, and the same again for the auditor.
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.
Most popular in the US
Most popular in the UK
Most popular in Australia
Most popular in Malaysia
Most popular in India
Most popular in Pakistan