ONTOLOGY EXPLORER
diversified community investment fund
<https://spec.edmcouncil.org/fibo/ontology/SEC/Funds/Funds/DiversifiedCommunityInvestmentFund>
プロパティと値
| プロパティ | 値 |
|---|---|
| source | "Diversified Community Investment Fund, available at https://www.nc3now.org/uploads/1/4/0/1/140134350/dcif_overview.pdf."@en |
| type | Class |
| label | "diversified community investment fund"@en |
| subClassOf | CommunityInvestmentFund |
| definition | "community investment fund that invests primarily in real estate but can also invest in any local business or project, and can do so with investment capital raised publicly from within the fund's own community, including community investors"@en |
| abbreviation | "DCIF"@en |
| explanatoryNote | "A Diversified Community Investment Fund (DCIF) is a specialized community-scale investment vehicle structured to both support local development and comply with U.S. securities laws - particularly the Investment Company Act of 1940 (the 'ICA'). This type of fund must meet two requirements: (1) its primary business is investing in real estate, rather than securities (e.g., stock) issued by other companies; and (2) real estate and other non-securities assets must comprise at least 60% of the fund's assets. The DCIF structure is intentionally calibrated to circumvent classification as an investment company - which would trigger certain SEC registration and disclosure requirements. Under the ICA, if a fund is 'primarily engaged in ... investing ... in securities,' it must register as an investment company. By meeting the 60/40 real estate-to-business allocation, the DCIF qualifies instead as a real estate fund, avoiding that designation."@en |
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