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We investigate the Polchinski ERG equation for d-dimensional O(N) scalar field theory. In the context of the non-perturbative derivative expansion we find families of regular solutions and establish their relation with the physical fixed points of the theory. Special emphasis is given to the large N limit for which many properties can be studied analytically.doi:10.1142/s0217751x01004712 fatcat:dydnbjlq75fljdyethdadtlgjq