Fund Date of Authorisation Management Company/AIF Management Company Depositary UCITS Schemes Authorised in December M&G Funds 1 ICAV 02 December M&G Securities Limited State Street Custodial Services (Ireland) Limited M&G Feeder of Corporate Bond (GBP Class I Income) Fund 02 December Laurence Pountney Hill 78 Sir John Rogerson's Quay M&G Feeder of Emerging Markets Bond (GBP Class I Income) Fund 02 December London M&G Feeder of Emerging Markets Bond (GBP Class I-H Income) Fund 02 December EC4R 0HH M&G Feeder of Episode Macro (GBP Class T-H Accumulation) Fund 02 December M&G Feeder of European Strategic Value (GBP Class I Income) Fund 02 December M&G Feeder of European Strategic Value (GBP Class I Accumulation) Fund 02 December M&G Feeder of Global Basics (GBP Class I Income) Fund 02 December M&G Feeder of Global Basics (GBP Class I Accumulation) Fund 02 December M&G Feeder of Global Convertibles (GBP Class I Income) Fund 02 December M&G Feeder of Global Corporate Bond (GBP Class I-H Income) Fund 02 December M&G Feeder of Global Dividend (GBP Class I Income) Fund 02 December M&G Feeder of Global Dividend (GBP Class I Accumulation) Fund 02 December M&G Feeder of Global Emerging Markets (GBP Class I Income) Fund 02 December M&G Feeder of Global Emerging Markets (GBP Class I Accumulation) Fund 02 December M&G Feeder of Global Floating Rate High Yield (GBP Class I-H Income) Fund 02 December M&G Feeder of Global High Yield Bond (GBP Class I Income) Fund 02 December M&G Feeder of Global Leaders (GBP Class I Income) Fund 02 December M&G Feeder of Global Leaders (GBP Class I Accumulation) Fund 02 December M&G Feeder of Global Macro Bond (GBP Class I Income) Fund 02 December M&G Feeder of Global Macro Bond (GBP Class I-H Income) Fund 02 December M&G Feeder of Global Select (GBP Class I Income) Fund 02 December M&G Feeder of Global Select (GBP Class I Accumulation) Fund 02 December M&G Feeder of Japan (GBP Class I Income) Fund 02 December M&G Feeder of Japan (GBP Class I Accumulation) Fund 02 December M&G Feeder of Japan Smaller Companies (GBP Class I Income) Fund 02 December M&G Feeder of Japan Smaller Companies (GBP Class I Accumulation) Fund 02 December M&G Feeder of North American Dividend (GBP Class I Income) Fund 02 December M&G Feeder of North American Dividend (GBP Class I Accumulation) Fund 02 December M&G Feeder of North American Value (GBP Class I Income) Fund 02 December M&G Feeder of North American Value (GBP Class I Accumulation) Fund 02 December M&G Feeder of Optimal Income (GBP Class I Income) Fund 02 December M&G Feeder of Pan European Dividend (GBP Class I Income) Fund 02 December M&G Feeder of Pan European Dividend (GBP Class I Accumulation) Fund 02 December M&G Feeder of Recovery (GBP Class I Income) Fund 02 December M&G Feeder of Recovery (GBP Class I Accumulation) Fund 02 December M&G Feeder of Strategic Corporate Bond (GBP Class I Income) Fund 02 December M&G Feeder of UK Inflation Linked Corporate Bond (GBP Class I Income) Fund 02 December M&G Feeder of UK Select (GBP Class I Income) Fund 02 December M&G Feeder of UK Select (GBP Class I Accumulation) Fund 02 December Goodbody Funds ICAV 11 December N/A CACEIS Bank Luxembourg - Dublin Branch Goodbody Dividend Income Balanced Fund 11 December One Custom House Plaza Goodbody Dividend Income Growth Fund 11 December Goodbody Global Leaders Fund 11 December Goodbody Global Smaller Companies Fund 11 December Goodbody Dividend Income Cautious Fund 11 December
Date of Authorisation Management Company/AIF Management Company Depositary AKO UCITS Fund ICAV 16 December N/A BNY Mellon Trust Company (Ireland) Limited AKO Global UCITS Fund 16 December Guild House Systematic iq plc 16 December N/A Societe Generale S.A. Qbasis All Trends UCITS Fund 16 December House Custom House Quay Leadenhall UCITS ILS Fund plc 16 December Leadenhall Capital Partners LLP Bank of America Custodial Services (Ireland) Limited St. Helen's 7th Floor 1 Undershaft 2 Park Place London EC3A 8ND Hatch Street UK DMS UCITS Platform ICAV 21 December DMS Offshore Management Services (Europe) Limited SEI Investments Trustee and Custodial Services (Ireland) Limited P/E FX Strategy Fund 21 December 25-28 North Wall Quay Styne House Efficient Capital CTA Index Fund 21 December Upper Hatch Street H2O Global Strategies ICAV 22 December n/a CACEIS Bank Luxembourg H2O Multi Aggregate Fund 22 December 1 Custom House Plaza H2O Multi Emerging Debt Fund 22 December Tremblant UCITS Fund ICAV 23 December DMS Offshore Management Services JP Morgan Bank (Ireland) plc Tremblant Long UCITS Fund 23 December 25-28 North Wall Quay JP Morgan House 1 George's Dock Barometer UCITS Fund ICAV 30 December Barometer Management (Ireland) Limited BNY Mellon Trust Company (Ireland) Limited Barometer Tactical Income Fund 30 December 2nd Floor, Beaux Lane House Guild House Mercer Street Lower Platform Capital UCITS ICAV 30 December Quayside Fund Management Limited SEI Investments Trustee and Custodial Services (Ireland) Limited Global Allocation Morningstar Defensive Fund 30 December 50 City Quay Styne House, 2nd Floor Global Allocation Morningstar Growth Fund 30 December Upper Hatch Street Next Generation Morningstar Global Defensive Fund 30 December Next Generation Morningstar Global Growth Fund 30 December Varius Global Equity Fund 30 December Varius Global Bond Fund 30 December Ivy+ Dynamic Growth Fund 30 December Ivy+ Defensive Growth Fund 30 December Ivy+ Balanced Growth Fund 30 December
Date of Authorisation Management Company/AIF Management Company Depositary AIF Designated Investment Companies Authorised in December N/a AIF Unit Trust Schemes Authorised in December N/a AIF Common Contractual Fund Schemes Authorised in December N/a AIF Investment Limited Partnerships Authorised in December N/a AIF ICAVs Authorised in December KW Investment Funds ICAV # 01 December Goodybody Fund Management Limited Northern Trust Fiduciary Services (Ireland) Limited KW Investment Fund I 01 December Ballsbridge Park George's Court KW Investment Fund II 01 December Ballsbridge KW Investment Fund III 01 December Dublin 4 KW Investment Fund IV 01 December KW Investment Fund V 01 December KW Investment Fund VI 01 December KW Investment Fund VII 01 December KW Investment Fund VIII 01 December Bryant Park QIAIF ICAV # 01 December MPMF Fund Management (Ireland) Limited Citco Bank Nederland N.V. Bryant Park Fund 1 Ø 01 December 2nd Floor Beaux Lane House Custom House Plaza, Block 3 Bryant Park Fund 2 Ø 01 December Mercer Street Bryant Park Fund 3 Ø 01 December Mav I Fund Ø 01 December Bryant Park Fund 5 Ø 01 December Bryant Park Fund 6 Ø 01 December Bryant Park Fund 7 Ø 01 December Bryant Park Fund 8 Ø 01 December Pilgrim Global ICAV Ø# 01 December DMS Offshore Management Services (Europe) Limited SMT Trustees (Ireland) Limited Corrib House Block 5 52 Lower Leeson Street Harcourt Centre Harcourt Road Cavalli Investments ICAV # 01 December Goodbody Fund Management Limited Northern Trust Fiduciary Services (Ireland) Limited Cavalli Real Estate Fund 1 01 December Ballbridge Park George's Court Ballsbridge Dublin 4
Date of Authorisation Management Company/AIF Management Company Depositary GSO Italian Credit Strategies Fund ICAV # 01 December Blackstone/GSO Debt Funds Management Europe II Limited State Street Custodial Services (Ireland) Limited GSO Italian Credit Strategies Feeder Fund 01 December 30 Herbert Street 78 Sir John Rogerson's Quay GSO Italian Direct Lending Fund 01 December GSO Italian Bond Fund 01 December GSO Italian Alternative Strategies Fund 01 December The Davy Platform ICAV # 02 December Davy Investment Fund Services Northern Trust Fiduciary Services (Ireland) Limited Irish Property Fund 1 Ø 02 December Davy House George's Court 49 Dawson Street BlueBay Investment Funds ICAV # 10 December BlueBay Asset Management LLP RBC Investor Services Bank S.A. BlueBay Global Investment Grade Corporate Bond Fund C-1 10 December 77 Grosvenor Street George's Quay House London, W1K 3JR 43 Townsend Street United Kingdom Swiss Capital Credit Strategies ICAV # 11 December Swiss Capital Invest Holding (Dublin) Limited BNY Mellon Trust Company (Ireland) Limited Swiss Capital Loan IX 11 December George's Court Guild House Foundation Quay ICAV # 14 December MPMF Fund Management (Ireland) Limited Societe Generale S.A. Foundation Quay Fund 1Ø 14 December Beaux Lane House House Mercer Street Lower Custom House Quay DMS QIAIF Platform ICAV # 18 December DMS Offshore Management Services (Europe) Limited SEI Investments Trustee and Custodial Services (Ireland) Limited BAYVK H1 Protégé Montgelas Fund Ø 18 December 25-28 North Wall Quay Styne House European Student Housing Fund 18 December 2nd Floor, Upper Hatch Street Protégé Market Independent Fund Ø 18 December 0 White Oak Summit EU Fund Ø 18 December The Hammerson ICAV # 21 December Goodbody Fund Management Limited Northern Trust Fiduciary Services (Ireland) Limited The Hammerson No. 1 Fund Ø 21 December Ballsbridge Park George's Court The Hammerson No. 2 Fund Ø 21 December Dublin 4 The Hammerson No. 3 Fund Ø 21 December The Hammerson No. 4 Fund Ø 21 December The Hammerson No. 5 Fund Ø 21 December The Hammerson No. 6 Fund Ø 21 December Rosebrook Opportunities ICAV # 22 December Davy Investment Fund Services Northern Trust Fiduciary Services (Ireland) Limited Rosebrook Opportunities Fund 2016 22 December Davy House George's Court 49 Dawson Street Zadig Fund ICAV # 21 December Zadig Gestion (Luxembourg) S.A. Bank of America Custodial Services (Ireland) Limited Zadig Master Fund 21 December 70C, Route d'arlon 6th Floor L-8008 Strassen 2 Park Place Luxembourg Hatch Street
Date of Authorisation Management Company/AIF Management Company Depositary AFS Platform ICAV # 22 December Deutsche Alternative Asset Management (UK) Limited BNY Mellon Trust Company (Ireland) Limited LiquidAlts Blueshift Energy 22 December Winchester House Guild House LiquidAlts Sandell Castlerigg 22 December 1 Great Winchester Street LiquidAlts WCM 22 December London EC2N 2DB LiquidAlts Frere Hall 22 December United Kingdom Winton Master Funds ICAV # 22 December Winton Fund Management Limited Citco Bank Nederland N.V. Winton Equity Event Master Fund 22 December Grove House Custom House Plaza, Block 3 27 Hammersmith Grove London W6 0NE England Winton Funds ICAV # 22 December Winton Fund Management Limited Citco Bank Nederland N.V. Winton Equity Event Fund 22 December Grove House Custom House Plaza, Block 3 27 Hammersmith Grove London W6 0NE England Golden Dome ICAV # 23 December DMS Offshore Management Services (Europe) Limited SMT Trustees (Ireland) Limited Golden Dome Sola 1 Fund 23 December 25-28 North Wall Quay Block E, Harcourt Centre Harcourt Road Gardena Alternative ICAV # 23 December KBA Consulting Management Limited CACEIS Bank Luxembourg Gardena Bond Absolute Return Fund 23 December 5 George's Dock One Custom Hpuse Plaza Gardena Hidden Assets Arbitrage Fund 23 December Majulah ICAV # 23 December Davy Investment Fund Services Northern Trust Fiduciary Services (Ireland) Limited FGPO Ireland Fund Ø 23 December Davy House George's Court 49 Dawson Street AQS Emerging Markets Corporate Debt Total Return Fund ICAV # 31 December Aventicum Capital Management (UK) LLP JPMorgan Bank (Ireland) plc 4 Sloane Terrace JPMorgan House London SW1X 9DQ United Kingdom SUB-FUNDS Approved in December UCITS Sub Funds Approved in December SSgA SPDR ETFs Europe II plc 30 September 2013 N/A State Street Custodial Services (Ireland) Limited SPDR MSCI World Consumer Discretionary UCITS ETF 01 December 78 Sir John Rogerson's Quay SPDR MSCI World Consumer Staples UCITS ETF 01 December SPDR MSCI World Energy UCITS ETF 01 December SPDR MSCI World Financials UCITS ETF 01 December SPDR MSCI World Health Care UCITS ETF 01 December SPDR MSCI World Industrials UCITS ETF 01 December SPDR MSCI World Materials UCITS ETF 01 December SPDR MSCI World Technology UCITS ETF 01 December SPDR MSCI World Telecommunications UCITS ETF 01 December SPDR MSCI World Utilities UCITS ETF 01 December
Date of Approval Management Company/AIF Management Company Depositary Heptagon Fund plc 11 November 2010 N/A Brown Brothes Harriman Trustee services (Ireland) Limited Heptagon Future Trends Equity Fund 02 December 30 Herbert Street Leo Invest plc 18 March 2010 N/A Northern Trust Fiduciary Services (Ireland) Limited Duet Managed Futures Fund 03 December George's Court Crown Sigma UCITS plc 15 February 2013 N/A RBC Investor Services Bank S.A. LGT Bond EMMA LC Sub Fund 01 December George's Quay House LGT Sustainable Quality Equity Hedged Sub Fund 01 December 43 Townsend Street LGT Sustainable Equity Global Sub Fund 01 December LGT Sustainable Equity Europe Sub Fund 01 December LGT Sustainable Bond Global Sub Fund 01 December LGT Sustainable Bond Global Hedged Sub Fund 01 December Lazard Global Investment Funds plc 26 February 2009 Lazard Fund Managers (Ireland) Limited State Street Custodial Services (Ireland) Limited Lazard US Fundamental Alternative Fund 04 December 6th Floor 78 Sir John Rogerson's Quay 2 Grand Canal Square Altana UCITS Funds plc 13 May 2014 N/A State Street Custodial Services (Ireland) Limited Altana Turnaround Stock Fund 04 December 78 Sir John Rogerson's Quay Comgest Growth plc 05 April 2000 N/A RBC Investor Services Bank S.A. Comgest Growth Asia ex Japan 04 December George's Quay House Comgest Growth World Developed Markets 04 December 43 Townsend Street Powershares Global Funds Ireland plc 13 September 2002 Invesco Global Asset Management Limited BNY Mellon Trust Company (Ireland) Limited PowerShares EURO STOXX 50 Volatility Balanced UCITS ETF 04 December George's Quay House Guild House PowerShares EURO STOXX High Dividend Low Volatility UCITS ETF 04 December 43 Townsend Street Odey Investments plc 07 October 2011 N/A JP Morgan Bank (Ireland) plc Odey European Focus Absolute Return Fund 07 December JP Morgan House 1 George's Dock Royal London Asset Management Bond Funds plc 08 April 2003 N/A State Street Custodial Services (Ireland) Limited Royal London Global Bond Opportunities Fund 07 December 78 Sir John Rogerson's Quay Fundlogic Alternatives plc 27 July 2010 N/A Northern Trust Fiduciary Services (Ireland) Limited Mariner Lenus Healthcare UCITS Fund 09 December George's Court Smartfund Growth Fund 16 December Smartfund Balanced Fund 16 December
UCITS Sub Funds Approved (cont'd) Date of Approval Management Company/AIF Management Company Depositary Smartfund Cautious Fund 16 December 80% Protected Index Portfolio 22 December Northern Trust UCITS Common Contractual Fund 20 January 2012 Northern Trust Fund Managers (Ireland) Ltd Northern Trust Fiduciary Services (Ireland) Limited Northern Trust North America Custom ESG Equity Index Fund 09 December George's Court George's Court PIMCO Funds: Global Investor Series plc 28 January 1998 PIMCO Global Advisors (Ireland) Limited Brown Brothes Harriman Trustee services (Ireland) Limited Global Libor Plus Bond Fund 11 December 30 Herbert Street 30 Herbert Street Neuberger Berman Investment Funds plc 07 February 2001 N/A Brown Brothers Harriman Trustee Services (Ireland) Limited Neuberger Berman US Equity Fund 11 December 30 Herbert Street Guinness Asset Management Funds plc 19 December 2007 Capita Financial Managers (Ireland) Limited JP Morgan Bank (Ireland) plc Guinness Best of Britain Fund 11 December 2nd Floor JP Morgan House Guinness Best of China Fund 11 December Grand Canal Square 1 George's Dock ANIMA Funds plc 24 September 1999 N/A State Street Custodial Services (Ireland) Limted ANIMA Solution 2022-I 10 December 78 Sir John Rogerson's Quay Heptagon Fund plc 11 November 2010 N/A Brown Brothers Harriman Trustee Services (Ireland) Limited Cushing US Energy Infrastructure Equity Fund 11 December 30 Herbert Street Legg Mason Global Funds plc 29 January 1998 N/A BNY Mellon Trust Company (Ireland) Limited Legg Mason Western Asset Multi-Asset Credit Fund 14 December Guild House Legg Mason Western Asset Structured Opportunities Fund 14 December City Financial Global Strategies plc 21 August 2008 N/A Northern Trust Fiduciary Services (Ireland) Limited City Financial Absolute Equity Feeder Fund 18 December George's Court Generali Invest CEE plc 27 May 2009 N/A RBC Investment Services Bank S.A. Premium Dynamic Fund, Generali Invest CEE plc 18 December George's Quay House 43 Townsend Street Sarain IE Funds 24 November 2014 Sarasin Funds Management (Ireland) Limited Northern Trust Fiduciary Services (Ireland) Limited Sarasin IE Systematic Absolute Return UK 21 December George's Court George's Court Sarasin IE Systematic Absolute Return European 21 December
UCITS Sub Funds Approved (cont'd) Date of Approval Management Company/AIF Management Company Depositary Sanlam Universal Funds plc 16 May 2001 Sanlam Asset Management (Ireland) Limited Brown Brothers Harriman Trustee Services (Ireland) Limited Sanlam FOUR UK Income Opportunities Fund 21 December Beech House 30 Herbert Street Beech Hill Road Dublin 4 UBS (Irl) ETF plc 23 December 2011 N/A State Street Custodial Services (Ireland) Limted UBS (Irl) ETF plc - MSCI World Catholic Values UCITS ETF 22 December 78 Sir John Rogerson's Quay Maple-Brown Abbott Funds plc 16 October 2007 N/A RBC Investor Services Bank S.A. Maple-Brown Abbott Global Infrastructure Fund 22 December George's Quay House 43 Townsend Street MontLake UCITS Platform plc 01 September 2010 N/A Northern Trust Fiduciary Services (Ireland) Limited Robocap UCITS Fund 22 December George's Court Vanguard Funds plc 22 December Vanguard Group (Ireland) Limited Brown Brothers Harriman Trustee Services (Ireland) Limited Vanguard EUR Corporate Bond UCITS ETF 22 December 70 Sir John Rogerson's Quay Styne House Vanguard EUR Eurozone Government Bond UCITS ETF 22 December Upper Hatch Street Vanguard USD Corporate Bond UCITS ETF 22 December Ireland Vanguard USD Treasury Bond UCITS ETF 22 December Vanguard GBP Corporate Bond UCITS ETF 22 December Vanguard USD Emerging Markets Government Bond UCITS ETF 22 December Lazard Global Active Funds plc 17 April 1996 Lazard Fund Managers (Ireland) Limited BNY Mellon Trust Company (Ireland) Limited Lazard US Equity Concentrated Funds 23 December 6th Floor Guild House 2 Grand Canal Square PIMCO Funds: Global Investors Series plc 28 January 1998 PIMCO Global Advisors (Ireland) Limited Brown Brothers Harriman Trustee Services (Ireland) Limited Dynamic Multi-Asset Fund 23 December 30 Herbert Street 30 Herbert Street Los Angeles Capital Global Funds plc 30 June 2011 N/A Brown Brothers Harriman Trustee Services (Ireland) Limited Los Angeles Capital Global Fund 23 December 30 Herbert Street Impax Funds (Ireland) plc 03 December 2004 N/A BNP Paribas Securities Services Dublin Branch Impax Environmental Leaders (Ireland) Fund 23 December Trinity Point 10-11 Leinster Street South HEXAM Capital Funds plc 23 February 2011 N/A State Street Custodial Services (Ireland) Limted HEXAM Hempshill Hall Global Income Fund 23 December 78 Sir John Rogerson's Quay
Date of Approval Management Company/AIF Management Company Depositary Russell Investment Company plc 11 April 1994 Russell Investments Ireland Limited State Street Custodial Services (Ireland) Limited Acadian Diversified Alpha UCITS 30 December 78 Sir John Rogerson's Quay 78 Sir John Rogerson's Quay Cramer Rosenthal McGlynn UCITS plc 22 July 2010 N/A Northern Trust Fiduciary Services (Ireland) Limited CRM Long/Short Opportunities UCITS 30 December George's Court BNY Mellon Global Funds, plc 14 March 2001 BNY Mellon Global Management Limited BNY Mellon Trust Company (Ireland) Limited BNY Mellon Global Credit Fund 31 December 33 Sir John Rogerson's Quay Guild House AIF Designated Investment Company Sub-Funds Approved in December Drive Investment Funds plc # 25 March Davy Investment Fund Services Northern Trust Fiduciary Services (Ireland) Limited Drive EP Fund Ø 16 December Davy House George's Court 49 Dawson Street Pramerica Fixed Income Funds plc # 28 August 2009 Pramerica Investment Management Limited State Street Custodial Services (Ireland) Limited QMA Emerging Markets All Cap Equity Fund Ø 22 December Grand Buildings 78 Sir John Rogerson's Quay 1-3 Strand Trafalgar Square London WC2N 5HR AIF Unit Trust Sub Funds Approved in December Davy Opportunity Trust # 17 November 2013 Davy Investment Fund Services Northern Trust Fiduciary Services (Ireland) Limited Green Liffey Investment Fund Ø 10 December Davy House George's Court 49 Dawson Street RAINBOW QIF 12 January 2012 ANIMA Asset Management Limited State Street Custodial Services (Ireland) Limited RAINBOW Fund XXXIII # 11 December Block A, 10th Floor 78 Sir John Rogerson's Quay 1 George's Quay Plaza PAC Qualifying Investment Fund # 22 March 2013 MPMF Fund Management (Ireland) Limited JP Morgan Bank (Ireland) plc PAC Long Short Equity Fund 11 December 2nd Floor JP Morgan House Beaux Lane House 1 George's Dock AIF Common Contractual Fund Sub Funds Approved in December Mercer QIF CCF# 16 March 2009 Mercer Global Investments Management Limited State Street Custodial Services (Ireland) Limited Mercer Investment Fund 3 CCF 04 December 70 Sir John Rogerson's Quay 78 Sir John Rogerson's Quay
Date of Approval Management Company/AIF Management Company Depositary ICAV Sub-Funds Approved in December Permal Managed Account Platform ICAV # 30 March N/A BNY Mellon Trust Company (Ireland) Limited P Simplex Japan PC IE Ø 04 December Guild House Permal Managed Account Platform ICAV # 30 March N/A BNY Mellon Trust Company (Ireland) Limited P LibreMax IE Ø 18 December Guild House Bartra Capital Property ICAV # 05 October Goodbody Fund Management Limited Northern Trust Fiduciary Services (Ireland) Limited Irish Social Housing Development Fund Ø 21 December Ballsbridge Park Georges Court Ballsbridge Park Dublin 4 Permal Managed Account Platform ICAV # 30 March N/A BNY Mellon Trust Company (Ireland) Limited P Canyon IE 22 December Guild House Permal Managed Account Platform ICAV # 30 March N/A BNY Mellon Trust Company (Ireland) Limited P York IE 23 December Guild House The Davy Platform ICAV # 02 December Davy Investment Fund Services Northern Trust Fiduciary Services (Ireland) Limited Elm Real Estate Investments Ø 23 December Davy House George's Court 49 Dawson Street Key This fund was authorised by the Central Bank as a closed-ended investment fund Ø This fund was authorised by the Central Bank as an open-ended investment fund with limited liquidity # This fund may be marketed to Qualifying Investors only in accordance with the Central Bank s notice NU 24/AIF Rulebook and therefore a minimum subscription of Euro 100,000 is required. This fund was authorised by the Central Bank as an umbrella scheme which may comprise open-ended and/or closed-ended and/or limited liquidity sub-funds.