closed-ended investment fund
(in UKLR282 and ESG)261 an entity:
- (a) which is an undertaking with limited liability, including a company, limited partnership, or limited liability partnership; and
- (b) whose primary object is investing and managing its assets (including pooled funds contributed by holders of its listed securities):
- (i) in property of any description; and
- (ii) with a view to spreading investment risk.