Minimum Dealing Size definition

Minimum Dealing Size means the minimum dealing size in which bonds may be bought or sold within the Income Element and is 1,000 nominal, which may be more or less than £1,000.

Minimum Dealing Size means a minimum number of Shares in a Sub-Fund for subscriptions, redemptions and conversions, as applicable, as may be set out in the Relevant Supplement; “Minimum Holding” means such minimum value of a holding of Shares in any Class, Sub-Fund or the ICAV as the Directors may determine and as set out in the Relevant Supplement; “Moody’s” means Moody’s Investors’ Services, Inc., the rating agency; “Mutual Sub-Fund” means any Sub-Fund that is not a UCITS ETF Sub-Fund; “Net Asset Value” or “NAV” means the Net Asset Value of the ICAV, or of a Sub-Fund or Class, as appropriate, calculated as described herein; “Net Asset Value per Share” means in respect of any Shares, the Net Asset Value attributable to the relevant Shares issued in respect of a Sub- Fund or Class, divided by the number of Shares in issue in respect of the Sub-Fund or Class; “Non-Exchange Traded Shares” means Shares of a Class issued by the ICAV in respect of a UCITS ETF Sub-Fund which are not exchange-traded; “Non-Irish Resident” has the meaning ascribed to it in the section of this Prospectus entitled “Taxation of the ICAV”; “NRSRO” means a Nationally Recognised Statistical Rating Agency, including Moody’s and S&P; “NSD” has the meaning ascribed to it in the section of this Prospectus entitled “Emerging Markets Risks”; “OECD” means the Organisation for Economic Co-Operation and Development; “OFAC” means the U.S. Department of the Treasury’s Office of Foreign Assets Control; “OTC” means over-the-counter; “OTC derivatives” has the meaning ascribed to it in the section of this Prospectus entitled “Schedule 3 - Investment Techniques and Instruments”; “OTC Total Return Swap” means an unfunded OTC total return swap being an agreement between a Sub-Fund and a Swap Counterparty. Under the terms of the OTC Total Return Swap, a Sub-Fund will receive the return of an Index from a Swap Counterparty in return for periodic payments from a Sub-Fund to such Swap Counterparties; “Participant” means an accountholder in the ICSD which may include Authorised Participants, their nominees or agents, and who hold their interest in Shares of the UCITS ETF Sub-Fundssettled and/or cleared through the ICSD.