Free Trade
The other free trade. International trade in which countries allow goods to flow across their borders without imposing import or export taxes.
A collective investment scheme is a fancy legal name for any investment fund that involves multiple people pooling their money together and investing in assets.
In the UK, this could include mutual funds, investment trusts or an open-ended investment company.
Collective investment schemes benefit from economies of scale. A larger pool of money invested has the potential to provide greater returns. It can also mean that transactions and other pieces of bureaucracy incur lower costs.