OPCVM categories and how to read a valeur liquidative

Equity, diversified, bond, money-market: what each category is for, and what the VL, fees and horizon really tell you.

Quick answer

The valeur liquidative (VL) is the price of one part of an OPCVM: total assets minus liabilities, divided by the number of parts. It is published daily or weekly, and it is the number WealthOS uses to value your fund holding.

The main categories

Actions (equity) — mostly listed shares. Highest long-run potential, largest swings; think five years or more.
Diversifié — a mix of shares and bonds. Middle risk, middle horizon.
Obligataire (bond) — government and corporate debt. Steadier, but sensitive to interest rates.
Monétaire (money market) — very short-term instruments. Lowest volatility, lowest return, a parking place rather than a growth engine.

Reading the VL correctly

A VL of 1,500 MAD is not “more expensive” than a VL of 150 MAD. Only the change matters: compare the VL today with the VL a year ago, and with what the fund’s category did over the same period. Always note the VL date — a fund priced weekly can be a few days stale.

Fees and horizon

Management fees are deducted inside the VL, so you never see them on a statement — but they compound against you. Ask for the total annual fee, and match the category to the date you need the money. This is general education, not a recommendation: WealthOS is not a professional financial advisor.