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Collective Investment Schemes ? As per Indian Companies and SEBI Act

Posted by naths on May 1, 2011 at 12:18 AM

Collective Investment Schemes: According to sub section 2 of section 11AA of SEBI Act, Collective Investment Scheme means “Any scheme or arrangement made or offered by any company under which the contributions, or payments made by the investors, are pooled and utilized with a view to receive profits, income, produce or property, and is managed on behalf of the investors is a CIS. Investors do not have day to day control over the management and operation of such scheme or arrangement”.

In the following article, we are going to learn more about “Collective Investment Schemes” and “Collective Investment Management Companies”.

Features of Collective Investment Scheme:

1. In collective investment scheme, the contribution made by the investors are pooled and used in different schemes

2. The purpose of contribution by the investors is earn some profit, income, property i.e. movable or immovable from such scheme

3. Funds are managed by CIS instead of investor

4. Investors have no control on the management of funds

Categories: Education : Fianace

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