Ordinance of the Swiss Financial Market Supervisory Authority on Collective Investment Schemes

¹The value of the as­sets un­der man­age­ment must be de­term­ined for each col­lect­ive in­vest­ment scheme man­aged on the basis of the leg­al pro­vi­sions ap­ply­ing in the state of dom­i­cile of the col­lect­ive in­vest­ment scheme as well as any valu­ation rules set down in the rel­ev­ant doc­u­ments of the col­lect­ive in­vest­ment scheme.

²The con­ver­sion amount for the over­all ex­pos­ure arising from lever­age fin­an­cing is cal­cu­lated in ac­cord­ance with com­mit­ment ap­proach II.

³The cap­it­al com­mit­ments in ac­cord­ance with Art­icle 1b para­graph 1 let­ter d CISO¹ are cal­cu­lated as the sum of all amounts that the col­lect­ive in­vest­ment scheme / its fund man­age­ment com­pany can call from in­vestors on the basis of bind­ing com­mit­ments.

⁴The nom­in­al value of a col­lect­ive in­vest­ment scheme in ac­cord­ance with Art­icle 1b para­graph 1 let­ter d CISO is the sum of the cap­it­al com­mit­ments less the re­pay­ments already made to in­vestors.