Managed Code

I have found following information's on this link

• Code that is executed by the CLR.
• Code that targets the common language runtime, the foundation of the .NET Framework, is known as managed code.
• Managed code supplies the metadata necessary for the CLR to provide services such as memory management, cross-language integration, code access security, and automatic lifetime control of objects. All code based on IL executes as managed code.
• Code that executes under the CLI execution environment.

Deatils can be found here.