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

(Arts. 59 para. 1 let. b, 83 CISA; Arts. 86 para. 3 let. b and 93 CISO¹)

¹The real es­tate fund and real es­tate com­pan­ies owned by it must close their ac­counts on the same day. FINMA may grant ex­emp­tions provided con­sol­id­ated fin­an­cial state­ments are pro­duced.

²The cal­cu­la­tion of the net as­set value must take ac­count of taxes (in­come and real es­tate gains tax and, if ap­plic­able, real es­tate trans­fer tax) in­curred in con­nec­tion with any li­quid­a­tion of the real es­tate fund.

³De­pre­ci­ation of build­ings, in­clud­ing fix­tures, may be charged to the profit and loss ac­count provided it is eco­nom­ic­ally reas­on­able.