COLL 1.2.4 What is a Unit?
A unit in a collective investment scheme (or scheme) is a unit representing the rights or interests (however described) of a participant in the scheme.
Note The nature of the rights or interests will differ according to the form of the scheme. If the scheme is a company, the units would be shares in the company.
|Derived from QFCRA RM/2010-05 (as from 1st January 2011)|