limited protection LTAF investor

101an investor in a long-term asset fund who is:

1. (1) a professional client; or
2. (2) a retail client who is:
   1. (a)
      1. (i) a certified high net worth investor; or
      2. (ii) an investor who has been certified as a ‘high net worth investor’ in accordance with COBS 4.12A.21R(1)(a) 102 and COBS 4.12A.22R (Third condition: categorisation);
   2. (b)
      1. (i) a certified sophisticated investor; or
      2. (ii) an investor who has been certified as a ‘sophisticated investor’ in accordance with COBS 4.12A.21R(1)(b) 102and COBS 4.12A.22R (Third condition: categorisation); or
   3. (c)
      1. (i) a self-certified sophisticated investor; or
      2. (ii) an investor who has self-certified as a ‘sophisticated investor’ in accordance with COBS 4.12A.21R(2) 102and COBS 4.12A.22R (Third condition: categorisation).