The fund is represented vis-à-vis third parties by the company responsible for its management. This company may take legal action to defend or assert the rights or interests of unitholders.
The management company is required to make the declarations stipulated in articles L. 225-126 and L. 233-7 of the French Commercial Code, for all shares held by the mutual funds it manages. The provisions of II and III of article L. 225-126 and of articles L. 233-14 and L. 247-2 of the French Commercial Code are applicable.
The UCITS, the depositary and the management company shall act honestly, fairly, professionally, independently and solely in the interests of the UCITS and its unit-holders or shareholders. They must offer sufficient guarantees with regard to their organisation, their technical and financial resources, and the good repute and experience of their managers. No SICAV or management company may act as depositary.
For the purposes of this section, the management body of the UCITS, of the depositary or of the management company means the body which: 1° Has the ultimate power of decision within the UCITS, the depositary or the management company; 2° Performs both management and supervisory functions, or only the management function when these two functions are separate.
The SICAV or the UCITS management company shall ensure that a single depositary is appointed. In accordance with the conditions laid down in the general regulations of the Autorité des marchés financiers, the appointment of the custodian is evidenced by a written contract. This contract defines in particular the information required to enable the custodian to fulfil its duties.
I. – Only the following may act as UCITS depositories: 1° The Banque de France ; 2° The Caisse des dépôts et consignations ; 3° Credit institutions having their registered office in France; 4° Credit institutions having their registered office in a Member State of the European Union or party to the Agreement on the European Economic Area other than France, through their branches established on French territory carrying out…
The depositary may not engage in activities relating to the UCITS or the management company acting on its behalf which could give rise to conflicts of interest between the UCITS, the unit-holders or shareholders of the UCITS, the management company and the depositary itself, unless the depositary has functionally and hierarchically separated the performance of its depositary duties from its other duties and the potential conflicts of interest have been…
I. – Assets held by the custodian shall not be re-used by the custodian, or by any third party to whom the custodian’s custodial function has been delegated, for their own account. A re-use is any operation relating to the assets held in custody, in particular their transfer, commitment, sale or loan. II. – Assets held by the custodian may only be re-used if : 1° The assets are reused…
The depositary of a UCITS governed by French law has its registered office or is established in France.
I. – The UCITS depositary : 1° Ensures that all payments made by or on behalf of unitholders or shareholders in connection with the subscription of units or shares of UCITS have been received and that all cash has been accounted for; 2° Generally ensures that the Fund’s cash flows are properly monitored. II. – The custodian entrusted with the safekeeping of the assets of a UCITS: 1° Ensures, under…
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75001, Paris France
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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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