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aifs

as defined in Directive 2011/61/EU of the European Parliament and of the Council of 8 June…, Article 4(1), point (a) (Definitions)

collective investment undertakings, including investment compartments thereof, which: (i) 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; and (ii) do not require authorisation pursuant to Article 5 of Directive 2009/65/EC;

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