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Collective Investment Undertaking(s) ('CIUs')

Collective investment undertakings ('CIUs') are undertakings:

(i) The sole object of which is the collective investment of capital raised from the public or through private placement, including investment seeded by the operator, in financial instruments and other assets and which operates on the basis of risk-spreading as appropriate; and
(ii) The holdings of which may be re-purchased or redeemed out of those undertakings. assets, as appropriate.
Added: January 2013