Definition of Coll

The Collective Investment Schemes sourcebook (Coll), the Financial Services Authority's (FSA) book of fund rules, defines the limitations on UK-regulated unit trusts. It replaced CIS, the previous sourcebook on collective investment schemes, in 2007. [1]

Coll describes three types of fund: those created under the Ucits rules, which can be marketed throughout the European Union; non-Ucits retail schemes that are only for the UK market; and qualified investor schemes intended for sophisticated investors. Both the Ucits and non-Ucits retail schemes can be marketed to retail investors. [2]