dilution

316(in COLL and CIS) the amount of dealing costs incurred, or expected to be incurred, byan ICVC or for the account of a single-priced AUT to the extent that these costs may reasonably be expected to result, or have resulted, from the acquisition or disposal of investments by the ICVC or for the account of the single-priced AUT as a consequence (whether or not immediate) of the increase or decrease in the cash resources of theICVC or single-priced AUT resulting from the issue or cancellation of units over a period;

for the purposes of this definition, dealing costs include both the costs of dealing in an investment, professional fees incurred, or expected to be incurred, in relation to the acquisition or disposal of approved immovables and, where there is a spread between the buying and selling prices of the investment, the indirect cost resulting from the differences between those prices .