Regulatory part - Orders

The composition of the guarantee fund’s investment portfolio may not exceed the following ceilings: 1° 40% for all listed shares ; 2° 6% for unlisted equities ; 3° 6% for all unlisted infrastructure investments (in capital); 4° 20% for real estate investments; 5° 5% for economic loan funds. These ceilings are assessed at market value. If one of these ceilings is exceeded, the guarantee fund implements a strategy as soon…

The guarantee fund shall adopt a governance framework providing for a division of tasks and responsibilities and the necessary delegations to ensure effective implementation of the investment strategy. It shall adopt internal control standards in order to verify the compatibility between the investment strategy, its implementation and the rules established by Article R. 421-47 and this paragraph. It shall adopt any rules or procedures necessary to ensure compliance with these…