Publication of the calculation of emission and solution prices by drawing and incorporating units in Danish UCITS and so on.

In accordance with paragraph 54 (2), Three, section 55, paragraph. 8, section 187, paragraph. 3, section 188, paragraph. 5, and section 221 (1). 3, in the Law on Investment Associations, etc., in accordance with : Law Order no. 935 of 17. September 2012, set :

Scope of application

§ 1. The notice shall apply to investment associations, SIKAV and securities funds (hereinafter referred to as ' Danish UCITS `) and on special associations, hedge associations, professional associations and approved sheep ' s associations (hereinafter referred to as " Danish UCITS "), "associations").

Paragraph 2. The Administrative Board referred to in section 6 (1). 2, shall be understood as the Management Board of an Investment Society, a SIKAV, a special association, a hedge union, a professional association, an approved sheep ' s association or for the investment management company or management company which, administers a securities fund.

§ 2. A Danish UCITS or association ' s statutes shall include provisions concerning the calculation of a department ' s emission and solution prices either in accordance with the price method in § 4, § 5 or § 6.

Paragraph 2. A Danish UCITS or an association must in its prospectus for the Danish UCITS, association or department and in its sales material for the Danish UCITS, the association, the department or the other class indicate the method it uses for calculation of : emission and solution prices as well as any sizeon times after ~ § 5 and 6.

Paragraph 3. If the shares of a Section or andella class are busy for trading in a regulated market, the department must use the double pricing method, cf. § 4, in the calculation of emission and solution prices.

Paragraph 4. The internal value of a branch ' s part is calculated by dividiating the value of the assets at the time of the number of shares in the department.

Paragraph 5. The internal value of an andelle class shall be calculated by dividing the amount of the part of the department ' s assets corresponding to that part of the common portfolio, to which the present shareholding is discarded, corrected for possible ; class-specific assets and costs borne by the shareholdings, with the number of shares in the other classes.

§ 3. The Danish UCITS that is master or feeder institutions must, together with the second institute in the master feeder structure, coordinate the date on which they calculate and publish the inner value of their shares, in order to avoid the differences in The internal value of the institutions resulting from the different times of the internal value of the institutions can be used.

Double pricing method

§ 4. After the double pricing method, a Danish UCITS or association shall fix the emission price for the internal value at the time of the same principle, which is used in the annual report, with an addition to a sum of expenditure for the purchase of the expenditure incurred in the case of purchases ; financial instruments and at the necessary cost of the emission.

Paragraph 2. After the double pricing method, a Danish UCITS or association shall fix the trigger price for the internal value at the time of the time of the same principles applied in the annual report, with deduction of a sum to cover expenditure on sale of : financial instruments and at the necessary cost of the solution.

The Single Price Method

§ 5. After the single pricing method, a Danish UCITS or association shall fix one or more dates for the value of units in a department or an area category. The Danish UCITS or the Association of the Danish UCITS or the Association shall set the emission price and the solution price for internal value at the earliest uptake in accordance with the same principles in use in the establishment of the Danish UCITS or the Association of the Danish UCITS or the Association of the Emission Value and the entry into the internal value of The annual report.

Modified single pricing method

§ 6. After the modified individual price method, a Danish UCITS or association shall fix one or more times for the calculation of the shares in a department or an area category. The Danish UCITS or the Association of the Danish UCITS or the Association shall set the emission price and the solution price, based on the internal value of the next deposition, in accordance with the same amount of time, in accordance with the same procedure, principles that are applied in the annual report.

Paragraph 2. Where the net emissions of the period exceed one of the governing board, the Danish UCITS or the association shall set the emission price to the internal value calculated in accordance with section 2, shall apply a fee to cover commercial costs. If the net contribution of the period exceeds one of the number of shares fixed by the management board, the Danish UCITS or the association shall fix the entry price to the internal value calculated in accordance with Section 2, shall be deduced from a fee to cover commercial costs. The board of directors of the Danish UCITS or of the association shall determine the amount of that fee.

§ 7. If a section of a Danish UCITS or association uses modified single-price method, cf. Section 6, the Danish UCITS and the association shall publish the size of the number of units which triggers an adjustment of the internal value. Similarly, the Danish UCITS and the association will publish the size of the fee for which the internal value will be adjusted. The publication shall take place in the prospectus and prospectus of the association or department of the Danish UCITS, the association, the department or the other class.

Penalty provisions and entry into force etc.

§ 8. The withdrawal of section 2 (2). One, two and three, and section 3-7 is punished by fine.

§ 9. The announcement shall enter into force on 1. January 2013.

Paragraph 2. At the same time, notice No 906 of 12. In August 2011, the calculation of emission and solution prices by drawing and incorporating units in investment associations, etc.