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UCITS management company : [28]

Company that manages’ UCITS i.e. carries out activities such as UCITS portfolio management and administration and, at times, marketing of units or shares.

Management companies are subject to AMF authorisation. The list of authorised management companies can be viewed on the AMF website.



Source: Banque de France

Undertaking for Collective Investment in Transferable Securities (UCITS) : [29]

Term that encompasses open-end investment companies (SICAV) and mutual funds (FCP).

These entities manage portfolios of financial instruments (or securities) and issue units or shares which may be subscribed for by individuals or companies. UCITS are authorised by the AMF (or a European regulator) and must comply with management and investment rules. UCITS offer the possibility, particularly for individuals, to access a portfolio of diversified financial instruments managed by a professional.

Also called collectively managed savings products.


Source: Banque de France

Unsecured creditor : [30]

An unsecured creditor is a creditor that does not have any specific guarantee (lien, pledge, mortgage) which allows it to be paid before other creditors from the proceeds of the sale of the debtor's assets. Only the debtor's present and future assets serve as a guarantee of payment of its claim. If an unsecured creditor is not paid, it may have the debtor's assets sold in order to be paid from the proceeds of the sale; however, it will be in competition with all the other creditors, particularly the preferential creditors.


Source: Service Public