Common use of Asset Pooling Clause in Contracts

Asset Pooling. To achieve greater diversification and economies of scale, the Management Company may resolve to have the assets of any Sub-Fund, in whole or in part, managed together with the assets of other Sub-Funds or with the assets owned by other collective investment undertakings (“Asset Pooling”). Each pooled participant will be entitled to a pro-rata share of the jointly managed assets based on its contribution to the common pool, including the pro-rata performance. The pooled assets will be held directly in a commingled account(s), providing full ownership records in terms of balances, transactions, accruals and charges for individual participants and thus allowing to precisely track and claim each individual participation such as is the case for any other asset invested by a participant directly. The Management Company shall ensure that the investment objective and policy in respect of the management of the pooled assets are compatible with those of each Sub-Fund participating in Asset Pooling. The Management Company shall apply the relevant Investment Guidelines on a look-through basis, i. e. including the Sub-Fund participation in the pooled assets. The Management Company is not required to inform the Unitholders of its decisions to enter or exit any Asset Pooling arrangements; however, any Unitholder is entitled to receive upon request from the Management Company’s registered office information about the relevant Sub-Fund participation in Asset Pooling, including its participation share and the list of other participants. Additionally, each Sub-Fund’s participation in the shared assets and their composition in jointly managed pools will be disclosed in the UCITS annual report. Asset Pooling involving non-Liechtenstein entities is permitted provided that: 1. the joint management agreement, to which the non-Liechtenstein entity is a party, is subject to the laws of Liechtenstein and the jurisdiction of the courts of Liechtenstein; or 2. each jointly managed entity has the rights necessary to protect it against any creditor or administrator in insolvency or bankruptcy of the non-Liechtenstein entity seizing or freezing its assets. In case of Asset Pooling, the general separation of assets and liabilities of each Sub-Fund and the consequences of such segregation of assets will be set aside and no longer applicable.

Asset Pooling. To achieve greater diversification and economies of scale, the Management Company may resolve to have the assets of any Sub-Fund, in whole or in part, managed together with the assets of other Sub-Funds or with the assets owned by other collective investment undertakings (“Asset Pooling”). Each pooled participant will be entitled to a pro-rata share of the jointly managed assets based on its contribution to the common pool, including the pro-rata performance. The pooled assets will be held directly in a commingled account(s), providing full ownership records in terms of balances, transactions, accruals and charges for individual participants and thus allowing to precisely track and claim each individual participation such as is the case for any other asset invested by a participant directly. The Management Company shall ensure that the investment objective and policy in respect of the management of the pooled assets are compatible with those of each Sub-Fund participating in Asset Pooling. The Management Company shall apply the relevant Investment Guidelines on a look-through basis, i. e. , i.e. including the Sub-Fund participation in the pooled assets. The Management Company is not required to inform the Unitholders of its decisions to enter or exit any Asset Pooling arrangements; however, any Unitholder is entitled to receive upon request from the Management Company’s registered office information about the relevant Sub-Fund participation in Asset Pooling, including its participation share and the list of other participants. Additionally, each Sub-Fund’s participation in the shared assets and their composition in jointly managed pools will be disclosed in the UCITS annual report. Asset Pooling involving non-Liechtenstein entities is permitted provided that: 1. the joint management agreement, to which the non-Liechtenstein entity is a party, is subject to the laws of Liechtenstein and the jurisdiction of the courts of Liechtenstein; or 2. each jointly managed entity has the rights necessary to protect it against any creditor or administrator in insolvency or bankruptcy of the non-Liechtenstein entity seizing or freezing its assets. In case of Asset Pooling, the general separation of assets and liabilities of each Sub-Fund and the consequences of such segregation of assets will be set aside and no longer applicable.