| 释义 |
Definition of umbrella fund in English: umbrella fundnoun An offshore investment fund which invests only in other investment funds. Example sentencesExamples - Fund supermarkets offer an umbrella fund for investors which invests in a range of other funds at their discretion.
- SO-CALLED "umbrella" portfolios have become very popular with fund management companies in recent years.
- 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.
- Pension funds are classified in three categories according to their size - small funds with no more than 500 members, medium funds with no more than 3 000 members and large funds with more than 3 000 members and umbrella funds.
- 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.
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