closed-ended investment fund

59(in LR) an entity:

1. (a) which is an undertaking with limited liability, including a company, limited partnership, or limited liability partnership; and
2. (b) whose primary object is investing and managing its assets (including pooled funds contributed by holders of its listed securities):
   1. (i) in property of any description; and
   2. (ii) with a view to spreading investment risk.