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Council Directive 85/611/EEC of 20 December 1985 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) · European Union

However: (a)a UCITS may invest no more than 10 % of its assets in transferable securities other than those referred to in paragraph 1; (b)a Member State may provide that a UCITS may invest no more than 10 % of its assets in debt instruments which, for purposes of this Directive, shall be treated, because of their characteristics, as equivalent to transferable securities and which are, inter alia, transferable, liquid and have a value which can be accurately determined at any time or at least with the frequency stipulated in Article 34; (c)an investment company may acquire movable and immovable property which is essential for the direct pursuit of its business; (d)a UCITS may not acquire either precious metals or certificates representing them.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-27 · Text as adopted (Official Journal); later amendments are not incorporated in this text.