Chapter IV: Collective investments.

Unless otherwise stipulated, articles R. 214-32-9 to D. 214-33 apply to funds covered by this sub-paragraph.

II of article D. 214-32-31 does not apply to AIFs covered by this sub-paragraph.

In order to prevent an imbalance between redemption requests and the assets of a general-purpose professional fund or one of its sub-funds from preventing it from honouring redemption requests under conditions which protect the interests of unitholders and ensure that they are treated equally, the fund rules or articles of association may, pursuant to the second paragraph of Article L. 214-146, set a ceiling on redemptions of units or shares…

I. – The 10% limit stipulated in the first and penultimate paragraphs of I and in the first paragraph of II of article R. 214-32-19 is raised to 50% for general-purpose professional funds. However, a general-purpose professional fund may not invest more than 10% of its assets in instruments mentioned in article L. 214-71, nor more than 20% of its assets in equities mentioned in article L. 214-62, nor more…

By way of derogation from the 50% limit mentioned in I of article R. 214-190, a general-purpose professional fund may invest up to 100% of its assets in the financial instruments mentioned in 1° to 6° of I of article R. 214-186, provided that these instruments emanating from the same UCITS, the same AIF covered by paragraphs 1, 2 and 6 of sub-section 2, sub-paragraph 1 of paragraph 1 of…

I. – Notwithstanding article R. 214-32-29, a general-purpose professional fund may invest : 1° Up to 50% of its assets in units or shares referred to in 3° of I of article L. 214-24-55 of the same collective investment scheme governed by French law, the same UCITS established under foreign law, the same AIF established in another Member State of the European Union or the same investment fund established under…

I. – The last paragraph of I of article R. 214-32-29 does not apply to general-purpose professional funds. II. – By way of derogation from article R. 214-32-41, the overall risk of a general-purpose professional fund resulting from financial contracts, transactions for the temporary sale or purchase of securities, or cash borrowings, may be up to three times its assets. III. – The 100% limit mentioned in 2° of II…