Manager

An investment manager, asset manager, manager, or (with some arcane distinctions, investment adviser are all more or less the same thing: clever folk playing with other people’s money. They're agents, and they may argue about unallocated trades.

For the purposes of the COBS rules, it is defined in the FCA’s Handbook

let me Google that for you

See also

• Investment Advisers Act
• Hedge fund

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