Common investment fund Definition | Legal Glossary | LexisNexis
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GLOSSARY

Common investment fund definition

What does Common investment fund mean?

When several pension funds in a group pool together the investment management of the assets they hold.

Such pooling arrangements require HMRC approval although they do not then become a registered pension scheme; this is a status held by the occupational pension scheme making use of the common investment fund (CIF). Each year, the provider of the CIF claims any tax credits on behalf of the trustees of the participating schemes.

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