Investment Company with Variable Capital
An Investment Company with Variable Capital (I.C.V.C.) is an undertaking for collective investments in transferable securities (UCITS) as defined in Law 4099/2012 and Directive 2009/65/EC.
The sole purpose of the I.C.V.C. is that of collectively investing the capital raised from the public in:
- transferable securities,
- UCITS units,
- UCI units (under conditions),
- derivative financial instruments,
- money market instruments and cash deposits
I.C.V.C.'s assets are divided in registered fully paid-up shares of equal value. I.C.V.C.'s shares do not have a nominal value but a variable value. I.C.V.C.'s share capital is equal at all times to the value of assets after deduction of liabilities and fluctuates with the issue of new shares or the repurchase or redemption of existing shares, without requiring compliance with the procedure of share capital increase or decrease under the provisions of codified law 2190/1920.
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