Pooled investment vehicle registered with the SEC and governed by the Investment Company Act of 1940.
A registered investment company is a pooled investment vehicle registered with the SEC and governed by the Investment Company Act of 1940.
It matters because many familiar fund products are not just portfolios. They are legal structures with specific disclosure, governance, custody, and investor-protection rules.
Registered investment company structures commonly include:
The term matters because it explains why pooled vehicles come with a recurring disclosure regime and defined operational rules rather than functioning like informal investment clubs or one-off private pools.