Common use of The UCITS Clause in Contracts

The UCITS. The Abbey Road Funds (hereinafter "UCITS") was established in accordance with the Law of 28 June 2011 on Certain Undertakings for Collective Investment in Transferable Securities (UCITSG). The Unit Trust Agreement and Annex A “Overview of Sub-Funds” have been approved by the Financial Market Authority (FMA) Liechtenstein and the UCITS has been entered in the Liechtenstein Commercial Register. The UCITS is an umbrella structure which may comprise one or more sub-funds. The various sub-funds are separated in terms of assets and liabilities. The duration of a given sub-fund is set out in Annex A “Overview of Sub-Funds”. Pursuant to Art. 4 para. 1 UCITSG, the UCITS has the legal form of a collective trusteeship. A collective trusteeship according to Art. 6 para. 1 UCITSG is the entering into a trust with identical content with an unspecified number of investors for the purpose of investment and management for the account of the investors, whereby the individual investors participate in this trust in proportion to their share and are only personally liable up to the amount invested. The management of the UCITS or its sub-funds consists principally in investing the capital raised from the public on a collective basis, in accordance with the principle of risk diversification. The UCITS or each of its sub-funds constitutes a fund for the benefit of its investors. In the event of the liquidation or bankruptcy of the Management Company, the fund shall not form part of the bankruptcy estate of the Management Company. The sub-funds may invest in securities and other assets in line with their investment policy. The investment policy of each sub-fund is determined within the framework of the investment objectives. The net assets of each sub-fund or share class of units and the net asset values of the units of these sub-funds or share classes of units are expressed in the relevant reference currency. The respective rights and obligations of the owners of the units (hereinafter "investors") and of the Management Company and the Depositary are governed by this Unit Trust Agreement. By acquiring units of one or more sub-funds, each investor acknowledges the Unit Trust Agreement which governs the contractual relationship between the investors, the Management Company and the Depositary, as well as the duly executed amendments to this document.