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According to the Australian Securities and Investments Commission ( ASIC ) , a managed investment scheme ( MIS ) , commonly known as a managed
According to the Australian Securities and Investments Commission ASIC a managed investment scheme MIS commonly known as a managed fund, exists where:
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people are brought together to contribute money to obtain an interest in the scheme.
money is pooled together with other investors or used in a common enterprise.
a responsible entity operates the scheme and hence investors do not have daytoday control over the operation of the scheme.
all of the above.
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