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As it currently stands, different legislative regimes apply to the content of a prospectus issued by a Jersey Certified Fund (that is a fund certified under Article 8(B) of the Collective Investment Funds (Jersey) Law 1988 (the ‘Law')), depending on the Certified Fund's legal form and whether or not it is open or closed ended.

The traditional elements of a trust involve a relationship between a settlor, a trustee and a beneficiary in respect of property.