Kitchen updates such as tile flooring, refacing old cabinets and updating appliances to energy-efficient models will see a substantial return--approximately 84.5 percent in the San Francisco area, for instance, according to Remodeling magazine's Cost vs. Value Report for 2009â2010.
What is a 'Collective Investment Fund'. A collective investment fund (CIF), also known as a collective investment trust, is operated by a bank or trust company and handles a group of pooled trust accounts. Collective investment funds groups assets from individuals and organizations to develop a larger, diversified portfolio.
The term has broader connotations and includes even mutual funds. For instance, in UK, the unit trust scheme is a collective investment scheme. However, in India, as in US, the definition of CIS excludes mutual funds or unit trust schemes etc. and is given a strict definition in Section 11AA of the SEBI Act, 1992. CISs are regulated by the securities market regulator â SEBI.