A SICAV is a type of collective investment company in Belgium. "Bevek" stands for Investment Company with variable capital.

A related type is the security (investment company with fixed capital).

A bevek can take the form of a public limited company (NV) or a limited partnership on shares (see: Commanditarian Company). A SICAV may invest in Belgium or abroad by collective investment of publicly subscribed capital (Act of 4 December 1990 on financial transactions and financial markets). A bevek can - in contrast to a security - change its capital (by issuing new shares or re-purchasing its shares) without changing its statutes.

There are certain tax incentives for investors in security or security, and over the years many different policies have been established, usually by banks. Some beveks are specialized in a particular sector (eg high tech companies or "environmentally friendly" companies) or in high-risk (or not) investments.

In other countries there is a similar form of investment; more specifically in Luxembourg law where it is called sicav. Also see

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