Amendment of the Fund Rules for all funds

Due to new European and national regulations, we are required to introduce additional liquidity management measures. These are intended to protect Unit-holders and to ensure that, even in the event of severe market disruptions, we have additional options to guarantee equal treatment of all Unit-holders.

Nothing will change under normal market conditions: redemptions of fund units will continue to be processed as before.

In the event of severe market disruptions, the following measures may be activated on a temporary basis:

1. Redemption restriction (gating): redemption orders will be executed on a pro-rata basis, where possible.
2. Extension of the redemption notice period: the time between your redemption order and the payment for your units may be temporarily extended.

You can find explanations of the terms “redemption restriction (gating)” and “extension of the redemption notice period” on our website in the Fund glossary under Know-How & Tools.