Common use of Legal Risks Clause in Contracts

Legal Risks. Contagion Risk. The UCITS has the legal form of a collective trusteeship, with an umbrella structure. Each Sub-Fund constitutes a pool of assets and liabilities separate from other Sub-Funds of the UCITS, and, as a matter of Liechtenstein law, the assets of any one Sub-Fund are not available to meet the liabilities of another Sub-Fund. However, the UCITS may operate or have assets held on its behalf or be subject to claims in other jurisdictions which may not necessarily recognize such segregation and in such circumstances the assets of one segregated portfolio may be exposed to the liabilities of another segregated portfolio whose assets are exhausted.

Legal Risks. Contagion Risk. The UCITS has the legal form of a collective trusteeship, with an umbrella structure. Each Sub-Fund constitutes a pool of assets and liabilities separate from other Sub-Funds of the UCITS, and, as a matter of Liechtenstein law, the assets of any one Sub-Fund are not available to meet the liabilities of another Sub-Fund. However, the UCITS may operate or have assets held on its behalf or be subject to claims in other jurisdictions which may not necessarily recognize such segregation and in such circumstances the assets of one segregated portfolio sub-fund may be exposed to the liabilities of another segregated portfolio sub-fund whose assets are exhausted.