Ordinance
on Collective Investment Schemes
(Collective Investment Schemes Ordinance, CISO)

(Art. 26 para. 3, 78 para. 3 and 118apara. 2 CISA)

¹ In the case of an L-QIF in the leg­al form of a con­trac­tu­al fund or SICAV, the fund man­age­ment com­pany or the SICAV may, sub­ject to the con­sent of the cus­todi­an bank, cre­ate, can­cel or merge unit classes, provided this is provided for in the fund con­tract or the art­icles of as­so­ci­ation.

² In do­ing so, it shall ad­dress the fol­low­ing spe­cif­ic cri­ter­ia: cost struc­ture, ref­er­ence cur­rency, cur­rency hedging, dis­tri­bu­tion or re­in­vest­ment of in­come, min­im­um in­vest­ment or in­vestor eli­gib­il­ity.

³ The de­tails must be set out in the fund con­tract or the in­vest­ment reg­u­la­tions. The risk that a class may be li­able for an­oth­er class must be spe­cific­ally dis­closed.

⁴ The fund man­age­ment com­pany or the SICAV shall an­nounce the cre­ation, dis­sol­u­tion or mer­ging of unit classes in the me­dia of pub­lic­a­tion. Only a mer­ger is deemed to be an amend­ment to the fund con­tract or the in­vest­ment reg­u­la­tions.

⁵ Art­icle 112 para­graph 3 let­ters a-c ap­plies ac­cord­ingly.