Federal Act on Collective Investment Schemes

¹The con­trac­tu­al fund (in­vest­ment fund) is based on a col­lect­ive in­vest­ment agree- ment (fund con­tract) un­der which the fund man­age­ment com­pany com­mits it­self to:

a.

in­volving in­vestors in ac­cord­ance with the num­ber and type of units which they have ac­quired in the in­vest­ment fund;

b.

man­aging the fund's as­sets in ac­cord­ance with the pro­vi­sions of the fund con­tract at its own dis­cre­tion and for its own ac­count.

²The cus­todi­an bank is a party to the con­tract in ac­cord­ance with the tasks con­ferred on it by the law and by the fund con­tract.

³The in­vest­ment fund must have the stip­u­lated min­im­um as­sets. The Fed­er­al Coun- cil de­term­ines the level there­of, and the peri­od in which it must be ac­cu­mu­lated.