SPECIAL PURPOSE VEHICLE Definition

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SPECIAL PURPOSE VEHICLE (SPV) is an organization constructed with a limited purpose or life. Frequently, these Special Purpose Vehicles serve as conduits or pass through organizations or corporations. In relation to securitisation, it means the entity which would hold the legal rights over the assets transferred by the originator.

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AD HOC is being concerned with a particular end or purpose, e.g., a ad hoc committee established to handle a specific subject.

CLOSED-END FUND is a mutual fund that sells only a fixed number of shares, which subsequently trade on exchanges like stock.

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