Glossary · Fund structure
UCITS
Undertakings for Collective Investment in Transferable Securities
A European regulatory framework for retail funds, setting rules on diversification, liquidity and disclosure.
A UCITS fund must meet limits on concentration and on the assets it may hold, must offer regular dealing, and must publish standardised disclosures. The framework exists so a retail investor gets comparable protections across funds.
The UK retained the UCITS regime after leaving the EU, and UK investors commonly hold both UK and Irish or Luxembourg-domiciled UCITS funds.
Domicile affects tax treatment and eligibility for particular wrappers, so two share classes of the same strategy are not always interchangeable.
How we calculate it
Flag from FCA FIRDS reference data.