Federal Act
on Collective Investment Schemes
(Collective Investment Schemes Act, CISA)

¹ The fund man­age­ment com­pany and the SICAV may em­ploy the fol­low­ing in- vest­ment tech­niques for the pur­pose of ef­fi­cient man­age­ment:

a.

se­cur­it­ies lend­ing;

b.

re­pur­chase agree­ments;

c.

bor­row­ing of funds, though only on a tem­por­ary basis and up to a cer­tain per­cent­age;

d.

pledging or trans­fer­ring the own­er­ship of col­lat­er­al, however, only up to a cer­tain per­cent­age.

² The Fed­er­al Coun­cil may per­mit oth­er in­vest­ment tech­niques such as short selling and the grant­ing of loans.

³ It defines the per­cent­age lim­its. FINMA reg­u­lates the de­tails.