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).
