collective investment undertaking other than the closed-end type

Definitions over time (1)

20/07/2017 – 31/12/2019 Article 2, Prospectus Regulation Scope: Whole act

For the purposes of this Regulation, the following definitions apply:

‘collective investment undertaking other than the closed-end type’ means unit trusts and investment companies with both of the following characteristics: they raise capital from a number of investors, with a view to investing it in accordance with a defined investment policy for the benefit of those investors; their units are, at the holder’s request, repurchased or redeemed, directly or indirectly, out of their assets;

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No text uses this concept on 12/11/2026.