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Term Definition Legal instruments

alternative investment fund


The changes to this defined term are effective from 23:00 on 31/12/2020.

means a collective investment undertaking, including investment compartments thereof which: 

(1) raises capital from a number of investors, with the intention of investing it in accordance with a defined investment policy for the benefit of those investors; and 

(2) does not require authorisation pursuant to article 5 of the UCITS Directive.