A SICAV or Société d'Investissement à Capital Variable to give them their full name are investment companies that pool investors' money and use expert fund managers to invest in shares, bonds or other types of investment. They offer investors diversified, professionally managed exposure to the income or growth potential of global stock markets.
They are ‘open ended'. This means that more shares can be issued each time someone invests, which means you can always buy or sell in line with the dealing days of the fund.
They are similar in structure to UK domiciled Open Ended Investment Companies (OEIC), however SICAVs are domiciled in continental Europe (with Luxembourg being their favoured domicile).
SICAVs offer a wide range of choice by sector, region and by the type of investment, such as equity funds and bond funds.
The AXA IM SICAV range is known as AXA World Funds and covers a wide variety of asset class exposure:
- Emerging markets debt
- Short duration strategies
- European and US high yield
- Euro and global credit
- Inflation strategies
- Smart Beta Credit
- Global Strategic Bonds
- Emerging markets equities
- Global equities
- Sector specialised equities