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A fund created by a charity where the contributions of multiple donors are pooled and invested. Each beneficiary (typically a donor) receives a share of income from the fund for life based upon the number of units in the fund he or she owns, and upon the death of the beneficiary, the beneficiary's units are paid to the charity.

Synonyms: PIF, PIFs, pooled income funds
Synonyms list (a comma-separated list)
PIF, PIFs, pooled income funds