246/2013 Coll.
DECREE
Dated July 24, 2013
On the status of the collective investment fund
Czech National Bank pursuant to § 220 Sec. 3 of the Act no. 240/2013 Coll.
On Investment Companies and Investment Funds (hereinafter
"Act")
PART ONE
GENERAL PROVISIONS
§ 1
Subject Matter
This Decree implements the relevant regulations of the European Union ^ 1) and
sets requirements on the content and structure of the statute of the collective investment
(hereinafter the "Statute").
§ 2
Structure statute
(1) The Statute is divided into at least 12 parts, which include:
A) details of collective investment fund (§ 3)
B) information about the investment fund Management Company (§ 4)
C) information on the administrator of collective investment funds (§ 5)
D) data on behalf of another individual performance (§ 6)
E) information on the depositary of a collective investment fund (§ 7)
F) investment strategy (§ 8)
G) risk profile (§ 9)
H) data on the historical performance (§ 10)
I) principles for management and data about the payment of profit shares or
income (§ 11)
J) information about the units or shares issued by collective investment fund
(§ 12)
K) information about the fees charged to investors and the costs borne by the
collective investment fund (§ 13-15) and
L) other information necessary for investors to consecrated assessment of the investment
(§ 16).
(2) The information required in § 16 may also be provided in other parts of the Statute, if
them they relate. Regarding the data referred to in § 4 para. 1 point.
G), h) and j), § 5 para. 1 point. h), i) and k), § 10 paragraph. 1, § 13 para. 1
3, 4 and 5, § 16 par. 3 point. d), e), f) and h) and § 19 para. 4 point. f)
be in the appropriate section of the Statute refer to the attachment statute, which is
such indication.
(3) The information required in § 17-21 shall be included in the statute pursuant to paragraph 1
to which by its content belongs.
(4) The statute of a collective investment fund, which is a public limited
company with variable capital, which creates a sub-fund has
such independent status is further divided according to whether
regards information, not common to all sub-funds.
These data will be entered in relation to the designated sub-fund
A) separately in the appropriate section of the Statute, or
B) in a separate part formed by a set of relevant parts of the statute, which
not common to all sub-funds.
(5) In the event that the statute of members pursuant to paragraph 4. b)
paragraph 1 to 3 shall apply mutatis mutandis.
PART TWO
GENERAL TERMS OF THE STATUTE
§ 3
A collective investment fund
[To § 220 paragraph. 1 point. b) of the Act]
(1) Data on investment fund are
A) business name or other designation, address and identification number
fund, if assigned,
B) date of fund
C) an indication of the Fund's registration in the list of IFs ^ 2)
maintained by the Czech National Bank,
D) the period for which the fund is established or founded,
E) whether the Fund is a standard fund or special fund,
F) whether the terms of the Fund Management Company or sub-fund, and
G) Historical data of status matters, in particular the previous trading
company names or other designations fund, data on mergers or acquisitions, changes
Management Company, the investment fund or administrator
collective investment fund, the date of conversion
special fund to standard fund; in the event that a historical figure
Management Company is the collective investment fund or
administrator of collective investment fund is known, or has
doubt the accuracy of such information, it shall be an explanatory supplement.
(2) In the case of a collective investment fund, which is
mutual fund shall further provide information on whether
A) is an open-ended mutual fund or closed-ended mutual fund
B) establishes the assembly of shareholders; if it is being managed, details about
its scope,
C) after the period for which it was closed mutual fund created
goes into liquidation, or converted to open-ended mutual fund or
stock company with variable capital and
D) a shareholder at the time of closed-end mutual fund right
Unit certificate repurchased on behalf of the fund within the specified deadlines, and
definition of time limits, which will be closed mutual fund units to redeem leaves
^ 3).
(3) Data on investment fund are
amount of capital if it is a public limited company, or the amount the enrollee
capital, if it is a limited company with variable capital
.
(4) Data on collective investment fund, which is a public limited
company with variable capital, which according to its statutes
can create sub-list is also created sub-funds.
(5) Data on investment fund in case
self-governing collective investment fund also contain information about the decision to
authorization to operate a self-governing investment fund
issued by the Czech National Bank, the issue date, reference number and date
coming into force of this decision and its subsequent amendments.
§ 4
Management Company
[To § 220 paragraph. 1 point. a) of the Act]
(1) Data on Collective Investment Fund Management Company, which is not
autonomous collective investment fund are
A) business name or other designation, address and identification
number, if assigned,
B) the date of the Management Company,
C) an indication of entry into the list of investment companies or
Management Company based in a foreign country who are authorized
manage investment funds
D) the share capital and an indication of its repayment,
E) the decision to authorize the activity involving the designation of the authority which issued the decision
issue date, reference number and date of entry into force of the decision
legislation and its subsequent amendments,
F) the consolidated group; 4) in which the Fund Management Company
collective investment included,
G) a list of senior officers or persons pursuant to § 21 para. 5 of the Act stating
their functions
H) information about the features that a senior officer or person under § 21 para. 5
Act shall be executed outside of the Management Company
collective investment if they are significant in relation to the activities of the Management Company
collective investment fund, or
fund managed collective investment
I) information on the subject of business ^ 5)
J) list of investment funds which Management Company
collective investment fund it manages.
(2) Data on investment fund Management Company, which is
autonomous collective investment fund, the information referred to in paragraph 1
point. f) to h), together with an explanation that the investment adviser of the Fund is
fund itself.
§ 5
Administrator
[To § 220 paragraph. 1 point. a) of the Act]
(1) Data on investment fund administrator,
does not carry out the administration of investment fund his
Management Company, are
A) business name or other designation, address and identification
number, if assigned,
B) the date that the administrator
C) an indication of the entry in the list of principal administrators or administrators
based in a foreign country who are authorized to administer
investment funds
D) information about the decision to authorize the activity involving the designation of the authority which issued the decision
issue date, reference number and date of entry into force of the decision
legislation and its subsequent amendments,
E) a description of the scope of the main activities that the fund administrator
collective investment fund for collective investment performs ^ 6)
F) data on a consolidated group to which the administrator of collective investment fund
included,
G) the amount of capital with an indication of the paid-up capital,
H) a list of senior officers or persons pursuant to § 21 para. 5 of the Act stating
their functions
I) information about the features that a senior officer or person under § 21 para. 5
Act shall be executed outside administrator collective investment fund
if they are significant in relation to the activities of the administrator
fund or collective investment fund CIU, whose
administration performs
J) data on the subject of business and
K) list of investment funds whose administration the administrator of collective investment fund
done.
(2) If the administration of collective investment fund performs its
Management Company, this fact shall be, and data referred to in paragraph 1
point. E).
§ 6
Performance credentials of another individual activities
[To § 220 paragraph. 1 point. j) of the Act]
(1) Data on the performance credentials of another individual activity that involves
management of collective investment fund ^ 7) are
A) business name or other designation, address and identification number
authorized, if assigned,
B) information, what part of the assets of the collective investment fund will be managed by authorized
and
C) identification of activities authorized for collective investment fund
exercises, their scope and detailed specification of the things belonging to the assets of the collective investment fund
, the administration of such a person instructs.
(2) Data on the performance credentials of another individual activity that involves
administration of collective investment fund ^ 8) are
A) business name or other designation, address and identification number
authorized, if allocated, and
B) identification of activities relevant to the collective investment fund, which authorized
exercises and their scope.
§ 7
Custodian
[To § 220 paragraph. 1 point. a) of the Act]
(1) Data on the depositary of a collective investment fund are
A) business name or other designation, address and identification
number, if assigned,
B) an indication of entry into the list of depositories of investment funds
C) a description of the basic activities of depository investment fund
and his duty to the collective investment fund, including its definition
particular responsibility for custody of investment instruments in assets
collective investment funds, custody of the assets of the collective
investment and registration of a collective investment fund, even
when Depositary commissioned another performance of this activity,
D) a description of other activities that depository of the collective investment
performs for collective investment fund ^ 9) and
E) data consolidation, in which the depositary of collective investment fund
included.
(2) Commissioned If the depositary another collective investment fund, data on
depositaries of collective investment funds are also
A) business name or other designation, address and identification number
authorized, if assigned,
B) identification of activities according to § 71 para. 1 of the Act, which authorized
exercises, their scope and
C) the description of, or other important activities, which authorized
exercises.
§ 8
Investment strategy
[To § 220 paragraph. 1 point. c) of the Act]
This section contains the Statute of the fund's investment strategy
collective investment scheme pursuant to § 93 paragraph. 3 of the Act and data on investment and
techniques for management under § 215 of the Act.
§ 9
Risk profile
[To § 220 paragraph. 1 point. d) of the Act]
(1) Risk profile of the collective investment fund based on the ratio
risk and reward profile of the investment and is expressed mainly synthetic
pointer. The manner of presentation of the synthetic indicator and
essentials verbal explanation applies similarly Article 8 and Annex no. 1
directly applicable EU regulations implementing the directive
European Parliament and the Council on the coordination of laws, regulations and administrative provisions
relating to undertakings for collective investment in transferable securities
^ 10) (hereinafter "Regulation").
(2) Risk profile of the collective investment fund contains notices
that the value of investments can fall as well as rise and is not always guaranteed return
amount originally invested.
(3) Risk profile, depending on the fund's investment strategy
collective investment includes a description of the major risks
that are associated with it, especially credit risk, risk
lack of liquidity risks settlement, market risk, operating
risk and concentration risk.
(4) If the investment fund Management Company uses
techniques for management of the Fund shall also
information on the risks associated with the use of these techniques and their impact on fund performance
.
(5) If a collective investment fund replicates the composition of the index
shares or debentures or other index or pursues other financial
expressed quantitatively indicator (benchmark), the description of risks arising from
chosen method of copying or watching .
§ 10
Historical performance
[To § 220 paragraph. 1 point. e) of the Act]
(1) Information on the historical performance of a collective investment fund is
shown in the bar chart.
(2) Calculation based on the historical performance of the fund value
capital investment fund and on the assumption that all proceeds fund
collective investment were reinvested.
(3) The manner of presentation of the bar chart, the additional warning
and possible use of the simulated values the historical performance
shall apply mutatis mutandis, Articles 15 to 19 and Annex no. 3 of Commission Regulation ^ 10).
§ 11
Principles for the management and payment of shares in profit or revenues
[To § 220 paragraph. 1 point. f) and g) of the Act]
(1) Guidelines for the management of collective investment funds comprise mainly
A) the definition of the financial year collective investment fund
B) whether the approval of the financial statements, decisions on distribution
profits or other income from the assets of the collective investment fund and
decision on reimbursement of losses from the management of the fund falls within the scope
statutory or supervisory body of the Management Company
this fund ^ 11)
C) rules and deadlines for the valuation of assets and debts ^ 12) and
D) the way of profits or income from fund management, in particular whether
will be paid out or reinvested.
(2) Where a collective investment fund paid share of the profit or
revenues, provide information about their payment, which contain
A) the record date for payment of shares in profit or revenues,
B) the deadline for payment of shares in profit or revenues,
C) the manner in which the shares of profits or revenues paid,
D) the period within which expires entitled to payment of shares in profit or revenues
and
E) whether an advance payment on earnings in accordance with § 120 para. 2 point.
B) of the Act, including the conditions under which such payment
possible, and an indication of the payment of these advances.
(3) is issued if a collective investment fund participation certificates
special rights or different types of shares, indicate the details
to pay the dividends on profits or income arising from mutual
sheets with special rights or various classes of shares.
§ 12
Units or shares issued by collective investment funds
[To § 220 paragraph. 1 point. h) of the Act]
(1) Data on units or shares issued by collective investment fund are
A) information on whether the
First Units or shares and
Second Securities or book-entry securities
B) whether it is for units or shares admitted to trading on
European regulated market ^ 13), or admitted to trading
in the multilateral trading system ^ 14), or whether their || | price publicly disclosed through the European
regulated market or multilateral trading system, and the designation of these markets or
MTFs
C) the nominal value of a unit or shares, if any, or
information that relates to units or shares without nominal value
,
D) the currency in which the nominal value of the shares or shares
expressed,
E) identification according to the international numbering system for identifying
units or shares (ISIN), if any,
F) business name or other designation of the person who registers
uncertificated Units or shares, and a brief description of the evidence and
G) a description of the special rights attaching to the Units or shares.
(2) A collective investment fund, an open mutual fund
or joint-stock company with variable capital,
addition to the data referred to in paragraph 1 shall
A) the method of determining a deadline for the calculation of the current value of the unit
or investment shares, including the calculation to determine the proportion of fund capital
attributable to participation certificates or special rights for different kinds
investment shares in the calculation of the current values ^ 15)
B) a statement that the administrator of collective investment funds
will issue investment certificates or investment shares for an amount under § 130
paragraph. 2 of the Act, if the administrator collective investment fund
intends to proceed under this provision,
C) place and frequency of publication of the actual value of the unit or
investment shares
D) the procedures and conditions for the issuance of units or shares in investment
, especially on the determination of the minimum amount or quantity
units or shares of investment on the issue, the way
rounding value of the unit or investment shares,
settlement dates for applications for the issue of shares or investment
shares, including pay arrears or overpayments
E) the procedures and conditions for the redemption of units or shares in investment
, especially deadlines for redemption, the rounding method
value of the share certificate or investment shares, including pay arrears, possibly
overpayments
F) the reasons for which redemption may be suspended, and
G) the place of issuance and redemption of units or shares in investment
.
(3) A collective investment fund, which is a public company,
not a joint-stock company with variable capital,
in addition to the data referred to in paragraph 1 shall
A) a description of the procedure for subscription of shares with data on deadlines for underwriting
including any options prematurely terminate the subscription or reduce
made underwriting
B) the location where the shares are subscribed, where appropriate, information on
entities that provide services related to subscription of shares and
C) the procedure for increasing the share capital of the company.
Fees and Expenses
[To § 220 paragraph. 1 point. i) of the Act]
§ 13
(1) Details of the fees charged to investors and the costs borne by the
collective investment fund shall be provided in tabular form in accordance with Annex
Nos. 1 and the following requirements:
A) collision, surcharge or fee represent the highest value of the consideration
^ 16), which can be charged to the investor in respect of a
or termination of its investment
B) the total cost of ^ 17) expresses the total amount of costs paid
collective investment fund during the reporting period and
C) if the fee listed depending on annual growth in the value of fund capital per
per Unit or one
share a collective investment fund (the "Performance Fee"), reflects the total amount
a consideration that may be paid from the fund
if the performance of the fund exceeds the specified pointer
(benchmark), with which performance is compared.
(2) The fee under paragraph 1. a) and c) shall be a percentage
statement together with the basis on which the calculation is based.
(3) The total expense pursuant to paragraph 1. b) shall be stated in the previous accounting period
in percentage terms as indicators of overall
cost. TER (TER) is the ratio
total amount of costs to the average monthly value of fund capital.
A total cost means the sum of the costs of fees and commissions
administrative expenses and other operating expenses in the statement of
costs and profits or losses of a collective investment fund, after deducting
fees and commissions on transactions investment instruments.
(4) Where a collective investment fund invests at least 10% of the value
its assets in securities or uncertificated securities
other investment funds or foreign investment funds (hereinafter referred
"Target Funds"), is the total expense listed in percentage
expression using synthetic TER
(synthetic TER). Synthetic TER is equal to the sum of the TER and TER
each of the target funds in proportion to the percentage
investment in the target fund on fund capital, while the percentage ratio
precipitation, surcharges and fees of the target funds to the average monthly value | || funded capital in this case is included in the TER target
funds. If a target fund does not publish its own TER, for the purpose of calculating the synthetic TER
above its estimate. Synthetic TER is calculated according
formula specified in Annex no. 2 hereto.
(5) Details of the fees charged to investors and the costs borne by
collective investment fund shall be accompanied by an explanation of which is
clear what the investor paid directly and what is paid from fund assets and collective investment
what is the amount of all fees and costs. Of
explanation must also be clear that the fees and expenses of the Fund
Collective investment serves to ensure the management of its assets and can reduce
appreciation of invested funds.
§ 14
Information about the fees charged to investors and the costs borne by the
collective investment fund also contain
A) the method of determining the amount of the payment and the Management Company
collective investment
B) a method of determining the amount of the payment to the administrator of the collective
investment
C) the method of determining the amount of the payment and depositaries of collective investment
,
D) the method of determining the amount of the payment and the person who was charged with
individual activities, which includes the management of collective investment
or administration of collective investment fund, if such a commission
occurs and if the remuneration paid
of the assets of the fund, and
E) review of other costs paid from the assets of the collective investment
not included in úplatách under subparagraphs a) to d).
§ 15
(1) Where a collective investment fund that
A) a flat fee covering all costs charged
investors, indicating a flat fee table pursuant to Annex no. 1
B) determine the maximum chargeable amount of the fee shall be chargeable
maximum fee table pursuant to Annex no. 1 if
while investment fund Management Company undertakes this
amounting to comply and pay any additional costs .
(2) If you can not determine the amount of total expense in accordance with § 13 para. 1 point.
B) otherwise, the qualified estimate. In this case, an indication of the estimate
supplemented by a warning that the amount of the total cost
represents only an estimate, and information about where and when the investor may be true
amount of the total cost to meet.
(3) If the shareholders of the same mutual fund ^ 18) or owners of the shares
^ 19) different fixed deductions, surcharges or fees in connection with the management
collective investment fund in the
depending on the volume of initial investment, the length of time holding mutual
sheet or shares or other specified objective criteria shall be
about this fact. The amount of the deductions, surcharges or fee
including an explanation of the criteria stated in the table, according to Annex No.
. 1st
§ 16
Additional information necessary for investors to consecrated assessment of the investment
[To § 220 paragraph. 1 point. k) of the Act]
(1) Other information necessary for investors to consecrated assessment
investments are particularly data on the status of and additional information about the fund
collective investment.
(2) Data on the status of the
A) the rules for updating the status and manner of publication
Statute and its amendments, unless such information is contained in the statutes of stock
companies that attach to the statute,
B) a statement that in addition to the Statute, also publishes the key
information and that the information contained therein shall be consistent with the information contained in the Statute
,
C) designation authority Management Company, the investment fund, to
whose responsibilities include the approval of the statute and its amendments, and
D) the date of signing of the Statute of the current wording of the statutory body or a member
statutory body, with his name, surname and features that
Management Company, the investment fund performs.
(3) Supplementary information on the investment fund are
A) the indication of collective investment funds by type of property
values that may be acquired into the assets of the collective investment fund, for example
equity fund, bond fund, short
Money market fund or money market fund mixed, provided that such signs
usually used,
B) characteristics of the typical investor for whom the collective investment fund
designed, especially in terms of the relationship
investor to the risks associated with investing in the fund, the required level
its experience investing in capital market
and in terms of the approximate time after which investments should be held by the investor
could achieve expected yield
C) a brief explanation of how investment decisions
property values that may be acquired into the fund's assets,
D) business name or other designation, address and identification number of the auditor
^ 20), if allocated,
E) the business name or other designation, address and identification number
main proponent, if assigned,
F) information about the person whose name or distinctive element is the name
her consent contained in the designation of a mutual fund or a sub
formed a joint stock company with variable capital
including a description of the scope of authority and the manner of their application, which for that
flow,
G) details on the conditions under which it can be decided on the liquidation or transformation
mutual fund or stock companies, including periods in which
investors will be informed of this intention, and the procedure for revoking or
transformation,
H) point of contact is possible if necessary to obtain additional
information (address, phone, e-mail address, Web site
)
I) basic information about the tax regime that applies to collective investment fund
, possession and transfer of units or shares
this fund, including a notice that the taxation of income or gains of individual investors depends
at the applicable tax provisions that
may not be the same for each investor, and that when you
investor is not confident about the tax regime concerning this
investor should seek professional advice
J) the manner and frequency of the publication of reports on the financial results of the Fund
K) data on the Czech National Bank as the supervisory authority of the collective investment schemes and
L) reminded investors that the authorization for the activities of an investment company
, self-governing investment fund, foreign persons pursuant to §
481 of the Act or the principal administrator, exercise supervision and prior
agreement to modify the status of a standard fund Czech National Bank
not guarantee return on investment or the performance of the collective investment
can not exclude the possibility of a breach of legal obligations or
statute, collective investment fund Management Company,
administrator of collective investment fund depository of the collective investment fund or
another person and do not guarantee that any
damage caused by such a breach will be replaced.
PART THREE
SPECIAL REQUIREMENTS OF THE STATUTE
§ 17
Special requisites of the statute of a special fund
Special essentials statute of a special fund, the data contained in
§ 241 paragraph. 1 point. b), c), e), f), k) and t) Act.
§ 18
The special requirements of the Statute of the sub-fund
(1) In the case of sub-fund is part of the investment strategy
bring these data
A) business name or other designation, address and identification number
managing the fund, if assigned,
B) business name or other designation, address and identification number
Management Company managing the Fund, if assigned,
C) the home State of the management fund
D) the extent to which the sub-fund invests in securities
securities or uncertificated securities issued by the management fund, and
E) a description of the investment strategy of managing the fund supplemented by information on whether
performance of the sub-fund will be similar to the performance of the management of the Fund or
whether and how it will differ.
(2) Data on the risk profile of the sub-fund may further comprise
A) managing the risk profile of the fund's risk profile and explanation
sub-fund in connection with its differences from the control
risk profile of the Fund if they differ in any material respect, and
B) an explanation of the mechanism of buying and selling securities or
uncertificated securities issued by the managing fund.
(3) Data on the historical performance of the sub-fund are supplemented with data on the historical performance
managing the fund, if the sub-fund
provides information on the historical performance of its management of the Fund as a
index or indicator (benchmark).
(4) If the child Fund was created later than managing a fund's historic performance
sub-fund for years before it began to exist, replaced by
past performance managing the fund (simulated performance)
condition that sub-fund may invest in securities issued
managing the fund and highly liquid assets, or
characteristic sub-fund is materially different from the characteristics
managing the fund.
(5) If a sub-fund information on its historical performance from the time
Before they started investing as a sub-fund, the fund captures
its historical performance data for all periods in the form of a bar chart
according to § 10 and mark it, he began to invest as
sub-fund.
(6) Information about the fees charged to investors and the costs borne by
collective investment fund sub-fund also contain information about
costs, which are paid from the assets of the sub-fund
because of its investments in securities or dematerialized
securities issued by the managing fund. Precipitation, surcharges, fees and share premium
levied by managing the fund and its overall cost of
be included in the calculation of the amount of the total cost sub-fund.
(7) Other information necessary for investors to consecrated assessment
investments that relate to the sub-fund are
A) a brief description of the organizational structure of the management of the Fund and
information on where to obtain the status of the managing fund
B) a description of the tax implications of investing in securities or
uncertificated securities issued by the management fund for the child
fund
C) a summary of the agreement of the Management Company and sub-fund administrators and the management of the Fund
and
D) how investors can receive more detailed information about
managing the fund and the agreement of the Management Company and the subordinate administrators
Fund and managing the Fund.
§ 19
Special requirements statute estate fund
(1) Information about the risks associated with investments
special fund investing in real estate or shares in real estate companies
(real estate fund) are expressed by a synthetic indicator according
§ 9 paragraph. 1, but contain a warning the risks associated with other
property values than real estate or shares in real estate companies
, and warnings of the risks associated particularly
A) the construction deficiencies or environmental burdens estate
B) a failure of the planned revenues from property lease
C) the inability of the real estate fund to repay loans taken, liabilities from
construction contracts and cover the costs of maintenance and operation of buildings,
D) the risk of natural damage to property in the portfolio,
E) the acquisition of foreign real estate, in particular political, economic or legal
instability,
F) the possibility of failure of a real estate company in which the Fund participate, or
with unpaid loans and advances to real estate funds
company,
G) with the obligation to sell the asset value of the Fund for failure
conditions associated with its possession ^ 21)
H) with the option to suspend the issuance or redemption of units ^ 22)
or investment shares ^ 23) up to 2 years
I) with lower liquidity of real estate acquired for the purpose of resale
or
J) the incorrect valuation of real estate or shares in real estate companies
expert or members of the Committee of Experts.
(2) Guidelines for the management of real estate fund in relation to real estate include
A) the rules for the acquisition and sale of real estate, in particular, the conditions under which it can acquire
property Pledged, substantive
burden, as a pre-emptive right kind and the right of use, and
procedure for determining the value of real estate if prices for
opinions by experts or members of the Committee of experts differ
B) the conditions under which
First sell the property, which was acquired in order to operate,
Second run property that was acquired for the purpose of further
sales
C) rules for the operation of real estate owned real estate fund, especially
rules for costs incurred in maintaining or improving their
state
D) the conditions under which a property owned by real estate fund
burden lien, easement, right of first refusal as
substantive law and the right of use of a third party, and
E) in the case of real estate located in the territory of another state, particularly
First principles for the acquisition, operation and sale of real estate in the territory of that State
identified in relation to risks
Second Information on protection of investments, including re-exports of capital and its revenues and
Third defining the way the depository estate fund will respect
such property to exercise their rights and obligations.
(3) Guidelines for the management of real estate fund in relation to attend
real estate companies include
A) the conditions under which it can acquire or participate in real estate
company,
B) rules for ensuring compliance with the conditions referred to in subparagraph a), including
ensure fulfillment of the obligations of the fund custodian of real estate, and
C) the conditions under which real estate fund may acquire an ownership interest in real estate
company that intends to acquire its assets
burdened property rights pursuant to paragraph 2. a), or has a property in his
property has.
(4) Guidelines for the management of real estate fund in relation to the valuation of assets include
A) the rules for selection of an expert real estate fund and investment adviser
information about the rules for selecting experts depositary real estate fund,
B) rules for the remuneration of experts
C) the rules for setting up a committee of experts, the selection of its members, the duration and
Loss of membership
D) the rules of the committee of experts to the extent required under § 269
Act
E) the remuneration policy committee of experts
F) the list of members of the Committee of Experts, date of their functions and data
their expertise and experience in determining the value of real estate and
indication that members of the fund is designated as the depositary
property | ||
G) rules for the case that the committee of experts or depository fund
Realty Fund recommends to ensure that the new property valuation
one independent expert, or the Czech National Bank ordered to ensure
such awards, including the period in which will be a revaluation
estate
H) the rules for the valuation, if it changes the purpose for which the property was acquired
and
I) information on persons performing real estate fund in favor
rights companion in real estate companies and the rules for the selection of these persons
.
(5) Other essentials statute estate fund are
A) deadline for the submission of the redemption of units or shares of the Fund
property
B) a specific deadline for the suspension of issuance and redemption
or shares real estate fund pursuant to § 136 par. 2 Act if
estate fund, this period determines
C) information about persons who provide for the real estate fund in whole or in part
operation of real estate, and rules for the selection of these persons and
D) information about persons who are to participate in the real estate fund
acquisition of real estate or participations in real estate companies, and
rules for the selection of these persons.
§ 20
Special requisites of the statute fund of funds
(1) Risk profile of the fund, which invests more than 49% of its assets in securities
or uncertificated securities issued
investment fund or foreign investment fund (fund of funds) also includes
|| |
A) description of the risks of investing in a target fund, if such
risks have or may have a significant impact on the fund of funds as a whole, and
B) a description of the risks associated with the accumulation of charges due to investment
target fund.
(2) Information on the total expense fund of funds pursuant to § 13 para. 1
point. b) also contain information on costs, which are paid from fund assets
funds due to its investments in securities or uncertificated securities
target fund. Precipitation, surcharges, fees and
share premium charged to the account of the target fund, and its total cost of
shall be included in the calculation of total expense fund
funds.
§ 21
The special requirements of the Statute of the structured fund
(1) The manager of collective investment funds, which investors
a specified maturity date cash consideration paid on the basis
specified calculation based on profitability, price changes or other
conditions that apply to investment instruments , indexes,
reference portfolios or investment funds with similar characteristics
(structured Fund), indicated in the part concerning
investment strategy details of the specified calculation.
(2) The Statute of structured fund instead of data on past performance
includes examples illustrating at least three scenarios of the fund's performance, and it
positive, neutral and negative; method for presenting scenarios
fund's performance requirements and verbal explanations apply mutatis mutandis Article 36 of Commission Regulation
^ 10).
PART FOUR
EFFICIENCY
§ 22
This Decree shall take effect on the date of its publication.
Governor: Ing. Singer, Ph.D., vr
Appendix 1
Structure of presentation fees and costs
[K § 13]
+ ---------------------------------------------- ------------------------------------------- +
| One-time charges charges taken before or after you invest |
| (This is the maximum that can be charged to the investor prior to the |
| investments, or investments before payment.) |
+ ---------------------------------------------- ------------------------------------------- +
| Entry fee (surcharge)% |
| Exit charge (haircut)% |
+ ---------------------------------------------- ------------------------------------------- +
| costs paid a collective investment fund during the year |
+ ---------------------------------------------- ------------------------------------------- +
| The total cost of% |
+ ---------------------------------------------- ------------------------------------------- +
| costs paid from the fund under certain specific conditions |
+ ---------------------------------------------- ------------------------------------------- +
| Performance fee% |
+ ---------------------------------------------- ------------------------------------------- +
Appendix 2
The formula for calculating the synthetic TER
[K § 13]
+ ---------------------------------------------- -------------------------------------------- +
| K |
| TERsynt TERF + = sum (x TERCFi wi) + ((CCFin CCFout +) / FK) x 100 |
| i = 1 |
| |
| TERF = operating expenses / FK (%) |
| |
| FK = average monthly value of the fund equity investment fund (CZK) |
| |
| TERCFi TER = ith AIF where is published (%) |
| |
| wi = share (weight) investment in i-th investment fund on fund capital |
| collective investment fund |
| |
| K = number of investment funds |
| |
| CCFin = premiums paid by investment funds (CZK) |
| |
| CCFout = paid rainfall investment funds (CZK) |
+ ---------------------------------------------- -------------------------------------------- +
1) Art. 63 paragraph. 1 and articles 69 to 72 of Directive of the European Parliament and the Council
2009/65 / EC of 13 July 2009 on the coordination of laws, regulations and
administrative provisions relating to undertakings for collective investment in transferable securities
( UCITS) (recast). Art. 23
Directive of the European Parliament and Council Directive 2011/61 / EU of 8 June 2011
on Alternative Investment Fund Managers and amending Directives
2003/41 / EC and 2009/65 / EC and Regulation (EC) no. 1060/2009 and (EU) no. 1095/2010
.
2) § 597 point. a) or b) of the Act no. 240/2013 Coll., on investment
companies and investment funds.
3) § 146 par. 1 of Act no. 240/2013 Coll.
4) § 22a paragraph. 1 of Act no. 563/1991 Coll., On Accounting, as amended
, as amended by Act no. 410/2010 Coll. and Act no. 188/2011 Coll
.
5) § 11 para. 1 of Act no. 240/2013 Coll.
6) § 38 par. 1 and 2 of the Act no. 240/2013 Coll.
7) § 23 and 24 of the Act no. 240/2013 Coll.
8) § 51 and 52 of the Act no. 240/2013 Coll.
9) § 65 of the Act no. 240/2013 Coll.
10) Commission Regulation (EU) no. 583/2010 of 1 July 2010 laying
implementing Directive of the European Parliament and Council Directive 2009/65 / EC as regards
key information for investors and the conditions that must be met when
providing key investor information or the prospectus in a
durable medium other than paper or via the web site
.
11) § 212 of the Act no. 240/2013 Coll.
12) § 194-202 of the Act no. 240/2013 Coll.
13) § 59 of Act no. 256/2004 Coll., On Capital Market, as amended
Act no. 420/2011 Coll.
14) § 69 of Act no. 256/2004 Coll., As amended by Act no. 420/2011 Coll.
15) § 190 paragraph. 4 and § 191 para. 5 Act no. 240/2013 Coll.
16) Art. 10 paragraph. 2 point. a) Commission Regulation (EU) no. 583/2010.
17) Art. 10 paragraph. 2 point. b) Commission Regulation (EU) no. 583/2010.
18) § 120 and § 167 paragraph. 1 third sentence of Act no. 240/2013 Coll.
19) § 276 of the Act no. 90/2012 Coll., On commercial companies and cooperatives
(Business Corporations Act).
20) § 2. e) of the Act no. 93/2009 Coll., on auditors, and amending certain laws
(Auditors Act), as amended.
21) § 63 para. 4 and 5 of the Government Decree no. 243/2013 Coll., On investment
investment funds and techniques to manage them.
22) § 136 par. 2 Act no. 240/2013 Coll.
23) § 163 par. 2 Act no. 240/2013 Coll.
