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Multi-Asset Investing: A practical guide to modern portfolio management by Yoram Lustig

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19. Investment vehicles

Investment vehicles come in different legal structures and types. Each vehicle has advantages and disadvantages and may be appropriate for one investor but not for another. Not all investors can or should access all investment vehicles. As always, the type of investment vehicle should match the investor’s objectives and constraints.

Collective Investment Schemes (CIS)

A Collective Investment Scheme (CIS) or collective is an investment vehicle pooling the investments of a group of investors to benefit from accumulating sufficient money for proper diversification, economies of scale (e.g. cost sharing) and appointing a professional investment manager.

Small portfolios may not have sufficient assets to properly diversify ...

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