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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
      1. (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
        1. (ii) with a view to spreading investment risk.