Subfunds Sample Clauses

Subfunds the subfunds separated within the Fund, referred to in Article 4 of the Regulations, unless the context requires that one or more of these subfunds are concerned;

Subfunds. There are no provisions for a meeting of investors and/or rights of consent. Details on the individual subfunds are described in respective Annex A „Subfund overview“. As a fundamental rule, each individual unit of the respective subfund embodies the same right, unless different unit classes exist or the AIFM decides to create different unit classes. Liability of the individual subfund assets with respect to third parties is limited to obligations entered into of the relevant subfund.

Subfunds. Further information on the various costs and fees can be found in the Trust Agreement as well as in respective Annex A „Subfund overview“.

Subfunds. Publication via permanent data carriers (letter, fax, e-mail or comparable) will only be made for the bringing about of the renunciation effect or of forfeiture as per Art. 43 AIFMV. Investors will be informed in an appropriate and precise manner concerning the planned merger. The investor information must enable investors to make a well-founded judgement on the effects of the project on their investment and the exercise of their rights under Art. 84 and 85 AIFMG. In the event of a merger, investors may demand the following without additional costs over and above those retained by the AIF resp. subfunds to cover the dissolution costs:

Subfunds. Fee dependent on the success of the investments (performance fee) The AIFM may also levy a performance fee, as calculated in application of the “high watermark” principle. If a performance fee is levied, it will be shown in detail in the respective Annex A „Subfund overview“. At the end of the term of the respective subfund, a performance fee will be paid out based on the actual sales proceeds achieved. The performance fee will only be paid out on amounts exceeding an assumed arithmetic average annual return of 4% (= Hurdle Rate p.a.). For example, if the term is for seven years, a performance fee based on a percentage of the difference between the notional net asset value of USD 128 per unit before calculation of the performance fee and the (actual) net asset value above this amount, multiplied by the number of units, is charged as a cost to the subfund. The performance fee is calculated annually for illustrative purposes and is then deferred each year until the end of the term of the subfund when it is finally calculated over the whole duration of the subfund and paid out.

Subfunds