UCITS stands for Undertakings for Collective Investment in Transferable Securities. The term refers to a UCITS IV Directive 2009/65 / EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS). The Directive defines the criteria an investment fund or UCI based in the EU must satisfy in order to be sold in all EU countries. The UCITS Directive aims to simplify investment guidelines in Europe and to provide investors with more protection. In the Netherlands this document is also known as ICBE.