capital — aggregate capital contributions and uncalled committed capital, calculated on the basis of amounts investible after deduction of all fees, charges and expenses that are directly or indirectly borne by investors (1)

competent authority of the ELTIF — the competent authority of the EU AIF within the meaning of point (h) of Article 4(1) of Directive 2011/61/EU (10)

competent authority of the manager of the ELTIF — the competent authority of the home Member State of the AIFM within the meaning of point (q) of Article 4(1) of Directive 2011/61/EU (13)

equity — ownership interest in a qualifying portfolio undertaking, represented by the shares or other forms of participation in the capital of the qualifying portfolio undertaking issued to its investors (4)

EU AIF — borrowed from another act; this instrument states no meaning of its own (8)

EU AIFM — borrowed from another act; this instrument states no meaning of its own (9)

financial instrument — a financial instrument as specified in Section C of Annex I to Directive 2014/65/EU (16)

financial undertaking — any of the following: a credit institution as defined in point (1) of Article 4(1) of Regulation (EU) No 575/2013 of the European Parliament and of the Council Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1). ; an investment firm as defined in point (1) of Article 4(1) of Directive 2014/65/EU; an insurance undertaking as defined in point (1) of Article 13 of Directive 2009/138/EC of the European Parliament and of the Council Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (OJ L 335, 17.12.2009, p. 1). ; a financial holding company as defined in point (20) of Article 4(1) of Regulation (EU) No 575/2013; a mixed-activity holding company as defined in point (22) of Article 4(1) of Regulation (EU) No 575/2013; a management company as defined in point (b) of Article 2(1) of Directive 2009/65/EC; an AIFM as defined in point (b) of Article 4(1) of Directive 2011/61/EU (7)

home Member State of the ELTIF — the Member State where the ELTIF is authorised (11)

manager of the ELTIF — the authorised EU AIFM approved to manage an ELTIF, or the internally managed ELTIF where the legal form of the ELTIF permits internal management and where no external AIFM has been appointed (12)

multilateral trading facility — borrowed from another act; this instrument states no meaning of its own (19)

professional investor — an investor which is considered to be a professional client, or may, on request, be treated as a professional client in accordance with Annex II to Directive 2014/65/EU (2)

quasi-equity — any type of financing instrument where the return on the instrument is linked to the profit or loss of the qualifying portfolio undertaking and where the repayment of the instrument in the event of default is not fully secured (5)

real asset — an asset that has value due to its substance and properties and may provide returns, including infrastructure and other assets that give rise to economic or social benefit, such as education, counselling, research and development, and including commercial property or housing only where they are integral to, or an ancillary element of, a long-term investment project that contributes to the Union objective of smart, sustainable and inclusive growth (6)

regulated market — borrowed from another act; this instrument states no meaning of its own (18)

repurchase transaction — borrowed from another act; this instrument states no meaning of its own (15)

retail investor — an investor who is not a professional investor (3)

securities borrowing — any transaction in which a counterparty transfers securities subject to a commitment that the borrower will return equivalent securities at some future date or when requested to do so by the transferor, that transaction being considered as securities lending for the counterparty transferring the securities and being considered as securities borrowing for the counterparty to which they are transferred (14)

short selling — an activity as defined in point (b) of Article 2(1) of Regulation (EU) No 236/2012 of the European Parliament and of the Council Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012 on short selling and certain aspects of credit default swaps (OJ L 86, 24.3.2012, p. 1). (17)