Investment funds that are structured as collective investment schemes (CIS) must be authorised or recognised by us to be promoted to retail investors in the UK. We explain these terms.
On this page 
Recognised funds
A fund that is established outside the UK must be recognised by us to be promoted to retail investors in the UK.
Funds established in countries other than the UK must be recognised under section 272 of the Financial Services and Markets Act 2000 (FSMA) or entered into the temporary marketing permissions regime (TMPR). A recognised fund may also be called a 'recognised CIS' or 'overseas scheme'.
Scheme numbers
Stand-alone |
Umbrella |
Sub-funds |
|
|
UK ACS |
|||
|---|---|---|---|
|
UCITS |
0 |
5 |
59 |
|
NURS (non-UCITS retail scheme) |
0 |
10 |
131 |
|
QIS (qualified investor scheme) |
1 |
11 |
106 |
| LTAF (Long Term Asset Fund) | 0 | 3 | 5 |
|
UK AUTs |
|||
|
UCITS |
464 |
20 |
131 |
|
NURS (non-UCITS retail scheme) |
143 |
27 |
102 |
|
QIS (qualified investor scheme) |
4 |
5 |
12 |
|
UK ICVCs |
|||
|
UCITS |
71 |
339 |
1858 |
|
NURS (non-UCITS retail scheme) |
114 |
145 |
685 |
|
QIS (qualified investor scheme) |
10 |
6 |
8 |
| LTAF (long term asset fund) | 0 | 1 | 1 |
|
Overseas funds |
|||
|
UCITS (that are in the TMPR) |
100 |
727 |
8144 |
|
Individually recognised (s272) |
2 |
15 |
54 |