Wrapper
A wrapper is commonly used by an investor, a trust, a family, or a promoter to structure a pool of assets into one single security.
It can be useful to hold several types of assets by subscribing to one single certificate instead of holding or subscribing to different securities.
As long as the securitisation undertaking does “not create the risk” it can hold securities which are actively managed by a third party asset manager (Actively Managed Certificate).