Undertakings for Collective Investment in Transferrable Securities

• Open-ended investment fund with European distribution passport.
• Subject to the supervision of the Luxembourg regulatory authority (CSSF).
• Contractual form (Fonds Commun de Placement, FCP) or corporate form (Société d’Investissement à Capital Variable, SICAV or Société d’Investissement à Capital Fixe, SICAF). Possibility to have separate sub-funds under one umbrella fund. Possibility to set-up various classes of shares.
• Investment in transferrable securities, cash deposits, money market instruments, other UCITS and derivatives within the limit permitted by the law. Strict borrowing restrictions apply.
• Net Asset Value publication at least twice a month. Audited annual report and unaudited semi-annual report required.
• Subscription tax at a rate of 0.05% of nets assets, reduced to 0.01% for instructional investors and money market funds.

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