Managed Investment

An investment is a managed investment if:

• the money or property invested is paid by the investor directly or indirectly to a body corporate or into a trust fund,
• the assets that represent the money or property invested (the invested assets) are not held in the names of investors,
• the investor does not have effective control over the management of the invested assets, and
• the investor has a legally enforceable right to share in any distribution of income or profits derived from the invested assets.

For a full definition see also:

Sections 5J(1A), 5J(1B) and 5J(1C) of the VEA.