Finance Glossary
FCP (Mutual Investment Fund)
What is a mutual fund?
A FCP (Fonds Commun de Placement) is a co-ownership of securities whose assets are managed by a management company on behalf of the unit holders.
It is a type of UCITS issuing units and having no legal personality, unlike a SICAV which is a company, has capital, and whose subscribers become shareholders.
By acquiring units of a Fonds Commun de Placement, the investor becomes a member of a co-ownership of securities.
How to invest in a mutual fund?
FCP shares are available through multiple distribution networks, which can be credit institutions, insurance companies, or online brokers.
To purchase FCP shares, simply place an order with your intermediary, who will forward it to the management company.
The purchase or sale price of an FCP share depends on the net asset value. This net asset value is published by the management company, notably on the website indicated in the KIID (Key Investor Information Document), and is also available on financial information websites.
They can be held in a securities account, a PEA (Equity Savings Plan), or in a life insurance contract (life insurance contracts denominated in units of account).