About The Communication Of Key Information Special Pool

Original Language Title: o sdělení klíčových informací speciálního fondu

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Read the untranslated law here: https://portal.gov.cz/app/zakony/download?idBiblio=80344&nr=242~2F2013~20Sb.&ft=txt

242/Sb.



GOVERNMENT REGULATION



of 24 July 2003. July 2013



about the communication of key information about how the Special Fund and the provision of

the communication and the Statute of the Special Fund in a non-documentary form



The Government directs pursuant to § 225 paragraph. 3, § 230 para. 2 and § 232 paragraph. 3

Act No. 240/2013 Coll. on investment companies and investment

funds:



PART THE FIRST



BASIC PROVISIONS



§ 1



The subject of the edit



This Regulation shall, in relation to the Special Fund



and) the details, structure, form and language requirements for observations

the communication of key information (hereinafter referred to as "disclosure"),



(b) the conditions and the method of continuous) update and the time limit for communication

the publication,



(c)) the conditions under which the status of Special Fund (hereinafter referred to as

the "Statute") and provide notice to the investor on the information medium that

does not have a physical form, and



(d)) the conditions under which the status and communication provide only

the website of the Special Fund.



PART TWO



GENERAL REQUIREMENTS



§ 2



Content of the communication



Communication can only contain data and information that this regulation

establishes or permits.



§ 3



The structure of the communication



(1) the communication shall be called "key investor information".



(2) the communication is broken down into 8 sections corresponding to each of the letters

This paragraph and their order, with the individual parts of the communication

provide data and information to the extent arising from individual

sections of part 3 of this regulation; the individual parts of the communication

shall contain the following information:



and) basic data concerning the communications of a special fund and its

translates into higher and the administrator (section 6),



(b)) a description of the investment strategy (section 7),



c) risk profile (section 8)



(d)) about the charges and costs of the Special Fund (§ 9),



e) information about historical performance (para. 10 and 11),



f) information about the depository, the main proponents and other additional

information about the Special Fund (§ 12),



g) for information about enabling special pool of the business translates into higher

(section 13) and



(h) the date of publication of the communication) (para. 14).



§ 4



Language expression and display the communication



(1) the communication must be



and processed legible, in particular) in terms of the size of the fonts and

the colors, which must not restrict the content of the communication, clarity and even

in the event of his capture by mechanical means on paper, and



(b)) expressed in a way that investor understanding of his neznesnadňuje

content, and in particular its language must be clear and understandable, it cannot be

to use the jargon, and the technical term, if it is possible, it must be replaced by the

generally known by the term of a comparable importance

.



(2) graphic design logos [paragraph 6 (b)), and (d))] must not detract

the investor from the contents of the communication or content overlap.



(3) the name of the communication, as well as the business name or other name or

the designation of a special fund must be made significantly larger type

the font than the rest of the text of the communication.



§ 5



The documentary form of communication requirements



(1) the communication of the captured by mechanical means on paper must have this

form:



and 2 sides) the scope of a single sheet,



(b) A4-size paper) to portrait or landscape,



c) hem edge of the paper at least 3 mm wide, which contains no text.



(2) the communication of a structured Special Fund (section 17) or a special

Fund that issues various kinds of investment securities or shares, you may have

range up to 3 sides 2 sheets.



PART THREE



SPECIAL REQUIREMENTS



TITLE I OF THE



THE CONTENT OF INDIVIDUAL PARTS OF THE COMMUNICATION



§ 6



Basic information about the Special Fund and its obhospodařovateli and

the administrator



(1) the first Part of the communication is without name, and provides



a) introductory provision reads as follows: "in this communication, the key

information about this Fund. This is not a promotional communications; the provision of such

information required by law. The purpose is to help you better understand

investing in this Fund, and the risks involved. For an informed

the decision whether to invest in this Fund to do so, we advise you to

with this communication to meet. "



(b)) business name, or other generally known and used by naming a business

of the company or of the designation, and the identification number of the person, if allocated,

a special pool, where appropriate, the special pool logo or name

the consolidated Group, which draws up the consolidated financial

statements (hereinafter referred to as "consolidated"), to which the Special

the Fund included,



(c)) as an indication that it is a special fund, and an indication of its kind in terms of

assets that can be acquired in the assets of this Fund ^ 1)



(d)) business name or other generally known and used by naming a business

the company and the identification number of the person, if allocated, the

translates into higher, or also the logo of this translates into higher or

the name of the consolidated Group, in which it is included, this obhospodařovatel

and



e) trade name or other generally known and used by naming a business

the company and the identification number of the person, if allocated, the

the administrator, where appropriate, also the logo of this administrator or the name of the

the consolidated Group to which the administrator is included, if it is

administrator different from translates into higher.



(2) the communication from the special pool includes sub-



and notice) that this communication is drawn up for the Sub-fund

a special fund, and that the half-yearly report and the annual report are in this

the case made for the whole of the Special Fund, and an indication of whether the Statute of

Sub-incorporated into the Statute of the Special Fund,



(b)) an indication of whether they are also included in this sub-Fund's assets and

debts that are not part of the property and debts from its special fund

investment activity, and what's the impact for the investor, and



c) an indication of whether the shareholder is entitled to the replacement of the investment shares to

one sub-Fund for the investment share to another sub-Fund and, if it is

so, where can information about how the application of this law found.



§ 7



The investment strategy



(1) the name of the part the second statement added: "investment strategy"; This part of the

the communication contains



and the most important data) and the most important kinds of property

values that can be acquired in a special fund, and equity



1. If they can be to its assets were acquired, or book-entry securities

securities, also a kind of these securities or book-entry

securities, such as stocks or bonds, and



2. If they can be added to his fortune acquired bonds or similar securities

paper or dematerialized securities representing the right to repayment of the

the amount owed, also a kind of these bonds or similar securities

or book-entry securities representing the right to repayment of the

amounts due according to the issuer, such as bonds issued by the

State or bonds issued by commercial companies, and reviews

the quality of these securities or book-entry securities

(rating)



(b)) refer to the right-holder or shareholder on redemption of investment

sheets or investment shares to be issued by a special fund, if it is

purchases, including details about the terms in which these units

or buy the investment shares,



(c) an indication of the particular marketing) industry or part of certain

a geographical area or a specific part of the financial market, in which

Special Fund intends to concentrate or concentrated their investments, or

a certain type of assets, in which the Special Fund intends to

concentrate or concentrated their investments,



d) an indication of whether a special fund intends to follow and monitor the

the index or any other financial quantitatively expressed as indicator (benchmark);

from this data must indicate what the index or pointer is and

how or to what extent the Special Fund pursues or intends to

Watch,



e) an indication of whether a special fund copies or intends to copy the composition

index of shares or debentures or other index; from this data must

result, on which the index is and how or to what extent it

a special fund of copies or intends to copy,



f) information about how to use the revenue from the management of managed

the property,



(g) the designation of the Special Fund by) the risk, which represents the kind of

assets, which mostly invests, and



h) an indication of whether a special fund uses derivatives ^ 2) or other techniques to

management of the Special Fund for the purpose of securing or for the purpose of

the performance of the investment strategy.



(2) the second part of the communication may also contain information about the approximate time

the investments should be held, that an investor could reach

the expected yield. If the communication from the Special Fund this approximate

the period specified, the communication also contains a warning that this

the Special Fund may not be suitable for the investor who wishes to obtain a

back their invested funds in less than the length of

This approximate time.



(3) part two communications may also contain other data and information,

If they are important for the proper understanding of the investment strategy of the Special

Fund Investor.



(4) the information specified in part a of the second statement must clearly distinguish

between the investment, if it would otherwise information about investment


the strategy of the Special Fund may be misleading or deceptive.



(5) the communication from the Special Fund, which is a child of the Fund, provides in

part of the other information about the



and the management of the Fund's investment strategy),



(b)), whether the performance of this Fund will match the performance of its

the management of the Fund, or an explanation of how and why performance

child Fund and its management of the Fund may vary, and



(c)), what proportion of the value of the assets of the Fund is invested in

securities or book-entry securities issued by its

managing the Fund.



§ 8



Risk profile



The name of the third section of the communication reads: "risk profile"; This part of the communication

contains



and scale for synthetic) to display the pointer variable

obtained on the basis of historical performance of special fund volatility

drawn up by the procedure referred to in annex 1 to this regulation, a brief

justification the inclusion of a special pool to the appropriate group under this

indicators and warnings that



1. the value of investments may fluctuate and is not guaranteed

the return on the originally invested amount,



2. the inclusion of a special pool to the appropriate group may change and



3. the inclusion of a special fund to the least risky group does not mean

an investment with no risk,



(b)), depending on the chosen investment strategy, a description of the risks if they are to

attaching to it and the investor to meet with them in the context of its

investment into a special fund,



1. the credit risk inherent in the fact that an issuer or counterparty

fails to meet its commitment,



2. the risk of lack of liquidity, namely, that certain assets

a special fund will be liquidated in a timely manner at a reasonable price and that

a special fund for this reason will not be able to meet the commitments of the

applications for purchase of investment securities or investment shares issued by

a special fund, or that may lead to the suspension of the sale of

investment securities or the investment of shares issued by a special fund,



3. settlement risk associated with the fact that the deal with property

the Special Fund is not, as expected, for the reason that

the counterparty fails to pay or deliver the investment vehicles or other

property values within the prescribed period,



4. market risk arising from the effects of changes in the development of the total market for

prices and values of individual types of assets in the asset

a special pool,



5. the risk of loss due to deficiencies or failure of internal processes, or

human error or due to external events (operational risk) and

the risk of loss of assets held in custody or custody that may

be caused by, in particular, insolventností, negligent or intentional

the conduct of the person who has custody or the custody of property of a special

Fund or units or shares issued by a special fund, and



6. the risks associated with the focus of the investment strategy of the Special

the Fund on certain economic sectors or part of, a particular geographical

the area, a part of the financial market, or a certain kind of property

values.



§ 9



Special Fund fees and expenses



(1) the title of part four of the communication reads as follows: "special fees and costs

the Fund "; This part of the communication contains a table set out in annex 2 to the

This regulation, and in the item



and the "entry fee") shall indicate the maximum amount of remuneration that can be

the investor post before making his investment,



(b)) "redemption fee" shall indicate the maximum amount of remuneration that can be

the investor post after termination of the investment,



(c) the "total cost"), the amount of the total of the costs covered by

assets of the Special Fund,



(d)) "performance fee" shall indicate the total amount of remuneration that can be

paid from the assets of the Special Fund in the event that its performance

exceeds the fixed indicator (benchmark), which is the performance of the

compared, if this consideration is not included in the item referred to in subparagraph (a)

(c)), and



e) "fee for the replacement of" shall indicate the total amount of remuneration that can be

the shareholders charge for the exchange of investment shares pursuant to § 6 paragraph 1. 2 (a).

(c)) instead of input and output of the fee.



(2) the amount of the fees and total costs shall be indicated in percentage

observations, together with the basis from which the calculation is based on. Total

shall bear the costs for the previous financial period.



(3) part four also contains information about the fact that



and the fees charged to investors and) costs chargeable to property tax special

the Fund is used to ensure the management and administration of special

the Fund, including the issue or sale and sale of investment securities, or

the investment of shares issued by a special fund, and that these fees and

the cost of reducing the potential return on investment for the investor, and



(b)) a detailed overview and description of fees charged to investors and costs

paid from the assets of the special pool contains the status.



(4) instead of the data referred to in paragraph 1 (b). (c)), and (d))



and in the special pool), which charges a flat fee that includes

all fees and other charges charged to investors, shall contain the following

flat fee and



(b)) in a special fund, which provides for the maximum amount of billable

fee and expense, shall indicate the maximum billable amount, if

obhospodařovatel Special Fund also undertakes to comply with and the amount of

pay any other costs from your.



(5) if the total cost cannot be determined pursuant to paragraph 1. (c)), the

with a qualified estimate. In this case, the estimate by

Notice that the total costs represents only an estimate, and about

information, where and when can the investor with the amount of the overall costs,

that is no longer an estimate, to get acquainted.



§ 10



Historical performance



(1) the title of part five of the communication reads: "Historic performance"; This part of the

the communication contains



and on that) that the data used relate to the past, and that the

past performance is not a reliable indicator of future returns,



b) data on the impact of fees and costs for the performance of the Special Fund and the



(c) in the form of historical performance) bar chart showing the

annual income after tax for the last at least 10 consecutive

years, displayed in accordance with the criteria listed in annex 3 to this

of the regulation.



(2) in the event that a special fund exists for less than 10 years,

However, for longer than 1 year, the annual revenue for all years

its existence. If for some period, data are not available,

shall be in the appropriate section of a bar diagram without a record date

performance. If the date of a special pool has passed less than 1

year, give notice of a lack of investor information

they can provide information about the historical performance of the Special Fund.



(3) the information about historical performance must be accompanied by an explanatory note, whether

the calculation takes into account the revenues and fees associated with the issuance of, or subscription for, and

odkupováním investment securities or shares issued by a special fund,

and/or other fees or costs.



(4) part five communications may also include



and a comparison of the historical performance set) according to point (b)) with the development of

the index or benchmark indicators monitored by a special fund in the

If the special fund such an index or indicator (benchmark)

monitors; the comparison shall be stated in the form of a bar diagram that reflects the

the comparator data,



(b) the overall average historical performance) for the period selected

the last consecutive years, if special pool after such

period exists, and for the period of its existence, if any, for a period of

less than 10 years, or



(c) the comparison of the overall average performance) for the period chosen last

consecutive years, if a special fund for such time

There is, with the development of the index or benchmark indicators of the reference

a special fund, and for the period of its existence, if any, for a period of

less than 10 years.



(5) the bar diagram must be displayed legibly and shall not capture

communication by mechanical means on paper exceed the dimensions of length and

the width of 1 side of the A5 format; the bar diagram and refills warning



and my limited explanatory power), in terms of future performance

a special pool,



(b)) the fees and expenses that were included in the calculation of historic

the performance of the Special Fund and which were excluded from the calculation,



c) year from which a special fund exists, and



(d)) the currency in which the historical performance of the Special Fund is calculated.



(6) the communication must not contain data about the performance of a special fund for the

the year in which the notice published or has to publish.



(7) the calculation of the Special Fund is based on the historical performance of the values

of the funded capital Special Fund and from the assumption that all

distributable income Special Fund have been reinvested.



§ 11



Historical performance in case of change of investment strategy



If, during the period of the display in a bar diagram in accordance with § 10

paragraph. 1 (b). (c)) or under section 10, paragraph 1. 2 to change the investment

strategy of the Special Fund, which substantially affected his performance,

It shall be indicated in a bar diagram and the period preceding this change. The indication


relating to this period is completed, the

the performance was achieved in other circumstances.



§ 12



Information on the depositary, the main proponents and other additional information



The name of the communication reads as follows: "practical information"; This part of the communication

contains



and a commercial company or other) generally known and used by naming a business

the company and the identification number of the person, if allocated, the depositary

a special pool, where appropriate, also the logo of this depository or the name of the

the consolidated Group, to which the depository is included, and,

If special pool services the main proponent, also a business name

or other generally known and used by the naming of the business of the company and

the identification number of the person, if allocated, the main proponent of

a special pool, where appropriate, also the logo of this main proponent or

the name of the consolidated Group, which is the main proponent is included,



(b) information on the right to) provide additional documents and data,

concerning the special pool ^ 3), on the basis of the request,



c) an indication of the point of contact, where it is possible, if necessary, to obtain the

additional information and data, including address, telephone number, address

e-mail and website address for this contact

space, and



d) warning for payment of injury pursuant to § 229 paragraph. 2 the law governing

investment companies and investment funds.



section 13 of the



For information about enabling the business



(1) part seven of the communication is without name, and, in the case of special

the Fund, which is government investment fund or special fund,

whose maturity is an investment company or a foreign person

with the permit under section 481 law governing investment companies and

investment funds, the text reads as follows: "authorized to practice

This translates into higher Special Fund was released in the United

Republic. Obhospodařovatel, the Special Fund shall be subject to surveillance

The Czech National Bank. "



(2) in the case of a special fund, whose maturity is a foreign

the person referred to in section 14 para. 2 the law governing investment company

and investment funds, paragraph 1 shall apply, mutatis mutandis, with the fact that



and) the Czech Republic is replaced by the name of another Member State in

Czech language in which this obhospodařovateli is granted

the permit, which entitles it to manage this special fund, and



b) indication of the Czech National Bank will replace the indication of a supervisory authority

another Member State which has granted the authorization to this obhospodařovateli

referred to in point (a)).



(3) if the Special Fund Administrator a person different from the

translates into higher, are used for the entry of data and information about how to enable

the administrator of the business of this paragraph 1 and 2 shall apply mutatis mutandis.



§ 14



An indication of the publication



Part eight of the communication is without name, and date of publication of the communication,

preceded by the text reads as follows: "the communication of key information

It was drawn up on the day. "



TITLE II



THE SPECIAL REQUIREMENTS OF SOME PARTS OF THE COMMUNICATION



§ 15



Specific elements of the communication Fund of funds



The communication from the Special Fund under its Statute to invest more

than the 49% of the value of its assets in securities or book-entry

securities issued by investment funds or foreign

investment funds (Fund of funds), it also contains



and in the second) a brief description of its investment strategy, if

It is an investment in the securities or book-entry securities

issued in other investment funds or foreign investment

funds, and



(b)) in the third for a description of the risks of each investment fund

or to a foreign investment fund issuing securities or

uncertificated securities in which the Fund invests, if from

careful business discretion implies that these risks have or

may have a material impact on the Fund as a whole.



section 16 of the



Specific elements of the communication Fund real estate



The communication from the Special Fund, which, according to its Statute, is investing in

^ 4) and real estate holdings in real estate companies ^ 5 (pool)

real estate), contains in the third section, instead of a synthetic scale

indicators under section 8 (a). and a brief description of the existing risks)

associated with a particular real estate asset in this Fund, or with the

the specific participation of the Fund in real estate investment company, for example,

the risk resulting from construction defects of such property or from its

the ecological burden.



§ 17



Specific elements of a structured communication special pool



(1) a structured Special Fund is a special fund, which, by its

unit-holders or shareholders of a particular fixed date paid

cash transactions whose amount corresponds to the result of a perceived by

a mathematical formula that takes into account as its base a variable

change the variable whose value is related to certain assets,

file assets, financial indices or other quantitatively

expressed by indicators.



(2) the communication of a structured Special Fund in the second on

contains



and an explanation of how the calculation above) cash paid

a structured special fund referred to in paragraph 1 and



(b)), at least 3 examples that illustrate the change in the model the amount

transactions referred to in paragraph 1, depending on different market conditions,

accompanied by a warning that it is a model for examples that are not

indicator of future performance of the Fund.



(3) the communication from the special pool does not contain part of the structured fifth.



section 18



Content of the communication in the case of the issuance of various types of investment certificates or

shares



If special pool different kinds of investment securities or shares in a ^ 6)

must of communication at least by reference to the Statute of the Fund arise, what

special rights are of different types of investment securities or shares

linked to.



PART FOUR



CONTINUOUS UPDATE OF THE COMMUNICATION AND THE TIME LIMIT FOR PUBLICATION OF THE



§ 19



Update notice



The communication of key information updates the administrator of the Special Fund

always at least once every 12 months, if necessary, for example, in

connection with the change of the statute or statutes, however, without undue delay,

After the operative event; in a bar chart depicting historical

performance will always take into account the performance of the Special Fund in the previous

year.



section 20



The publication of the updated communication



(1) if it has been updated, the updated communication communication without

undue delay, publish.



(2) if the notice was last updated in connection with the amendment to the statutes

or of the Statute, shall publish the updated communication changes

the articles of association or statutes.



(3) the communication containing the taking into account of the performance of the Special Fund in

the previous calendar year, shall be published no later than 35. working day

the following calendar year.



PART FIVE



THE PROVISION OF COMMUNICATION AND STATUS OF INVESTORS



section 21



Conditions for the provision of the Statute and the communication on the information medium that

does not have a physical form



Communication or the statute can provide the investor on the information medium,

that does not have a physical form, if



and the provision on this) the information medium is appropriate in the circumstances,

under which it is made or is to make trade between

maturity, or by an administrator, a special fund and

the investor, and



(b)) investor in the choice between a physical form and carrier information

that does not have a physical form, specifically, to choose this carrier information.



section 22



Conditions for the provision of the Statute and the only communication on the Internet

website



Communication or the status of an investor may be granted only on the

website of the Special Fund, if



and their provision) is on the website of the appropriate

circumstances in which it is carried out or to be carried out trade between

maturity, or by an administrator, a special fund and

the investor,



(b)) with their by providing only the website has granted

investor,



(c) the investor has been communicated electronically) website

including, where appropriate, an investor can communication or the Statute of the

found, and



(d)) at any time the investor has the option of using a communication or statute for

adequate for the purpose.



PART SIX



FINAL PROVISIONS



Article 23 of the



Transitional provision



A communication published in accordance with the existing legislation, it is considered

communications pursuant to this regulation and may be updated by

the existing legislation, up to 22 December 2003. July 2014.



section 24



Regulation (EEC)



Decree-Law No 189/2007 Coll., on communication of key information

a special fund, collective investment schemes, is hereby repealed.



§ 25



The effectiveness of the



This Regulation shall enter into force on the date of its publication.



Prime Minister:



Samantha r in r.



Minister of Finance:



Fischer v. r.



Annex 1



View scale for a synthetic indicator



1. Synthetic indicator is reflected in one of the groups on a scale.

The scale consists of a contiguous sequence of groups marked with whole numbers in

ascending order from 1 to 7 from left to right.



2. On the scale must be noted that the lower risk means potentially


lower returns and higher risk means potentially higher yields.



3. the group, in which is included a special fund, is highlighted.



4. To distinguish the individual groups on a scale cannot be used exclusively

colors.



Annex 2



To view the table of fees charged to investors and costs

paid from the assets of the Special Fund



The fees charged to investors and costs paid out of the assets of the Special

the Fund appears in the table with the following structure:

----------------------------------------------------------------------------------------------------------

One-time fees charged to the investor directly before or after the investment

----------------------------------------------------------------------------------------------------------

Entry fee []%



[] Output fee%



The fee for the exchange of

----------------------------------------------------------------------------------------------------------

This is the highest amount that can be charged to the investor prior to the

investment/investment prior to payment

----------------------------------------------------------------------------------------------------------

Costs covered by the special pool of assets during the year



(These costs are reflected only in the performance of the respective investments, are not charged directly to the investor.)

----------------------------------------------------------------------------------------------------------

The total cost []%

----------------------------------------------------------------------------------------------------------

This is the figure for the previous financial year.

----------------------------------------------------------------------------------------------------------

Costs covered by the assets of the Special Fund under the special conditions

(These costs are reflected only in the performance of the respective investments, are not charged directly to the investor.)

----------------------------------------------------------------------------------------------------------

Performance fee []% per year from the revenue which the Special Fund reaches beyond the performance

indicator (benchmark) for this fee decision [insert name of

indicators]

----------------------------------------------------------------------------------------------------------



Annex 3



The criteria for displaying historical performance



Bar chart that shows the historical performance of the meets this

criteria:



1. the scale of the Y axis of a bar diagram is linear, not

logarithmic,



2. the scale is adapted to the scale of the displayed columns, with

the column must not be compressed to the extent that the ability to detect fluctuations in

profitability was aggravated by,



3. the X axis is located on level 0% rate of return,



4. for each column is indicated by the return achieved in the percentage

observations and



5. historical performance values are rounded to the first decimal

instead.



1) of Decree-Law No 243/2013 Coll. on investment and investment funds

techniques to their management.



2) § 627 para. 1 of the law No. 240/2013 Coll. on investment companies and

investment funds.



3) § § 224, 225, 233 para. 2 and § 237 para. 2 Act No. 240/Sb.



4) section 628 of the law No. 240/Sb.



5) § 100 para. 2 part of the sentence after the semicolon Act No. 240/Sb.



6) § 167 and § 120 paragraph 1. the last sentence of the law No. 240/Sb.



section 276 of the Act No. 90/2009 Coll., on commercial companies and cooperatives

(law on commercial corporations).