I. – By way of derogation from the 10% limit set out in II of Article R. 214-21, a UCITS may invest up to 20% of its assets in equities and debt securities of a single issuer where, in accordance with the fund rules or the SICAV’s articles of association, the aim of the UCITS’ investment policy is to replicate the composition of an equity or debt securities index, including…
I. – Shares or units in undertakings for collective investment in transferable securities governed by French law marketed in France or in undertakings for collective investment in transferable securities governed by foreign law that have been notified in accordance with Article L. 214-2-2, provided that such admission is requested by these undertakings or by their management company and that the units or shares of these undertakings are traded at their…
By way of derogation from Article R. 214-21, a UCITS may invest, in accordance with the principle of risk spreading, up to 100% of its assets in different eligible financial securities and money market instruments mentioned in 1° of IV of Article R. 214-21. These eligible financial securities and money market instruments belong to at least six different issues, provided that the securities belonging to any one issue do not…
A UCITS may invest up to 20% of its assets in units or shares of the same UCITS governed by French or foreign law or FIA governed by French law or established in another Member State of the European Union or in another State party to the Agreement on the European Economic Area, as well as of an investment fund established under foreign law mentioned in 3° of I of…
I. – Investments in units or shares of FIAs governed by French law or established in other Member States of the European Union or in other States party to the Agreement on the European Economic Area, as well as investment funds governed by foreign law, may not exceed a total of 30% of the UCITS’ assets. II. – When a UCITS has acquired units or shares of another UCITS governed…
I. – An open-ended investment company (société d’investissement à capital variable) or a management company acting on behalf of all the UCITS it manages shall not acquire shares carrying voting rights enabling it to exercise significant influence over the management of an issuer. II. – A UCITS may not hold more than : 1° 10% of the non-voting equity securities of any one issuer ; 2° 10% of the debt…
I. – The rules governing the composition of assets and the division of risks must be complied with at all times. However : 1° UCITS are not required to comply with the limits laid down in this sub-paragraph when exercising subscription rights in respect of financial instruments or money market instruments which form part of their assets; 2° Newly authorised UCITS may derogate from R. 214-21, R. 214-22, R. 214-23,…
I. – A UCITS with a formula is a UCITS which meets the following two conditions: 1° It is managed passively and its management objective is to reach, at the end of a given period, an amount determined by the mechanical application of a predefined calculation formula, with reference to financial market indicators or financial instruments, and, where applicable, to distribute the remuneration predefined in the regulatory documents; 2° It…
I. – A UCITS may not borrow. It may, however, acquire currencies by means of cross-currency loans. II. – By way of derogation from I, a UCITS may borrow provided that such borrowings : 1° Are used on a temporary basis and represent no more than 10% of its assets; or 2° enable the acquisition of real estate necessary for the direct pursuit of its activities and, in the case…
The UCITS ensures that its overall risk linked to financial contracts does not exceed the total net value of its portfolio. The overall risk is calculated taking into account the current value of the underlying assets, the counterparty risk, future market trends and the time available to liquidate positions. For feeder UCITS, this calculation also takes into account the overall risk of the master UCITS in relation to financial contracts….
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75001, Paris France
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is a Registered Trademark of
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75001, Paris France
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