Ordinance
on Financial Institutions
(Financial Institutions Ordinance, FinIO)

(Art. 33 para. 1 Fin­IA)

The head of­fice of the fund man­age­ment com­pany is deemed to be in Switzer­land if the fol­low­ing con­di­tions are met:

a.

The non-trans­fer­able and in­ali­en­able du­ties of the board of dir­ect­ors in ac­cord­ance with Art­icle 716a CO²¹ are per­formed in Switzer­land.

b.

For each of the in­vest­ment funds man­aged by the fund man­age­ment com­pany, in min­im­um the fol­low­ing tasks are per­formed in Switzer­land:

1.

de­cisions on the is­sue of units;

2.

de­cisions on in­vest­ment policy and on the valu­ation of in­vest­ments;

3.

valu­ation of in­vest­ments;

4.

de­term­in­a­tion of is­sue and re­demp­tion prices;

5.

de­term­in­a­tion of dis­tri­bu­tions of profit;

6.

de­term­in­a­tion of the con­tent of the pro­spect­us and the key in­form­a­tion doc­u­ment, of the an­nu­al or the semi-an­nu­al re­port, as well as of fur­ther pub­lic­a­tions in­ten­ded for in­vestors;

7.

keep­ing of ac­counts.