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FCA Handbook
Glossary
redemption

redemption

(1) (except in58 EG 14 58 (Collective investment schemes)) (in relation to units in an authorised fund) the purchase of them from their holder by the authorised fund manager acting as a principal.

118(in EG 14 (Collective investment schemes)) redemption as in (1) but including their cancellation by:
1. the trustee of an AUT;
1. the depositary of an ACS; or
1. an ICVC.

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