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English definition of “unmanaged”

unmanaged

adjective     /ˌʌnˈmænɪdʒd/
used to describe a tracker (= a financial product that only follows the general level of particular shares ), rather than an investment that is managed in an active way: One unmanaged fund is American Gas Index that invests in about 75 stocks from an index developed by the American Gas Association .
(Definition of unmanaged adjective from the Cambridge Business English Dictionary © Cambridge University Press)
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