Collective Investment Fund

Judging by the name, you might assume it's a communist mutual fund...Tito's favorite investment vehicle. Not so. Though it does involve mingling different people's investment funds into a single portfolio.

The structure of a collective investment fund, or CIF, shares superficial similarity with a vanilla mutual fund. The difference is that the CIF is set up specifically for a particular purpose, usually something like a pension plan or a set of assets used for stock bonuses. These assets also usually share a similar special tax profile, such as being exempt from federal income tax.