Common use of Unit Classes Clause in Contracts

Unit Classes. The Management Company may resolve to create one or more Classes of Units for any Sub-Fund as well as to terminate or consolidate existing Classes. The Classes may differ with respect to the application of income; distribution policy; subscription fees; redemption fees; denomination; currency hedging; remuneration for management; operations or other services; the minimum investment and minimum holding amount; distribution network; qualifying investors or other relevant differentiating terms / characteristics. As a result, due to the aforementioned differences in the terms / characteristics of a specific Class, the investment performance may vary across different Classes of a Sub-Fund despite that all Classes of such Sub-Fund feed into the same portfolio of assets. If a Class is issued in a currency different from the base currency of that Sub-Fund (as set out in Annex A), the Management Company may enter into currency hedging transactions to hedge against exchange rate fluctuations between such Class and the Sub-Fund. These hedging activities may cause both profit and loss, as the case may be. There can be no assurance that the currency hedging program will be entirely successful. The Management Company may terminate the currency hedging program. The profits and losses of such currency hedging will be allocated to the relevant Class. In setting up the Classes, the Management Company seeks to adhere to the following convention: a. Class A Units are generally distributing units, while Classes B, C, I1 and IM are generally reinvesting units. b. Subject to the decision of the Management Company in each particular case, Classes A and B are generally available to all eligible investors while Class I1 is generally reserved for either (a) institutional investors who invest directly or (b) private-law foundations, where such relevant foundation is investing indirectly on behalf of an institutional investor who is a beneficiary of such foundation or (c) foundations with a charitable purpose according to private-law in their country of incorporation. c. Class C comprises retrocession-free units. Unless the Management Company determines otherwise in its sole discretion, Class C shall be open for investment by (i) institutional investors; (ii) clients of banks in the United Kingdom of Great Britain and Northern Ireland and in the Netherlands; (iii) clients of LGT Group companies after signing a client services agreement; (iv) investors that have entered into advisory or discretionary management agreements with banks or asset management companies non-affiliated with LGT Group; and (v) investors that have entered into a cooperation agreement with the Management Company or its affiliate. d. Class IM charges no management fee and no performance fee. Unless the Management Company determines otherwise, Class IM shall be open for investment by (i) institutional investors that have an asset management agreement, an investment advisory agreement, a co-operation agreement or similar agreement with an LGT Group company or that are themselves investment programs managed, advised or distributed by an LGT Group company; (ii) LGT Group companies and companies in which LGT Group owns a direct or indirect economic interest; (iii) employees of LGT Group companies, the members of the board of the Management Company; and (iv) private investors that have an asset management agreement with an LGT Group company, provided that the investment management function in such case is sub-delegated to LGT Capital Partners Ltd. or any of its affiliated entities. Institutional investors within the meaning of the above-described classes I1 and IM include in particular both domestic and foreign: - companies subject to financial markets and insurance supervision (banks, etc.); - institutions operating private or public-law occupational pension plans, including those of supranational organisations (pension funds, investment foundations, vested benefits foundations, banking foundations, etc.); - institutions operating private or public-law pension schemes, including those of supranational organisations; - collective investment schemes established under any jurisdiction and any legal form; - holding, investment or financial services companies or operating companies with professional treasury if investing for their own account; - single or multi-family offices with professional treasury; and - national, local or supranational entities established under public-law of any description. Assessment of institutional investor qualification in relation to clients that are serviced under an asset management agreement, is performed based on look-through to the ultimate beneficial owner; whereas, in such relationship professional treasury is considered to be met. The Management Company and/or the Depositary may at any time require the Unitholders to provide proof that they continue to meet the requirements for participation in a Class. To the extent that banks, securities traders or other institutional investors hold Units for the account of their clients, these organizations must, on request, provide proof that they hold these Units for the account of clients who individually meet the specified requirements. Unitholders who fail to furnish such evidence may be requested to comply or else to convert their Units into Units for which they meet the relevant requirements or redeem their Units or transfer them to a Unitholder who meets these requirements. Where the Unitholder fails to comply with this request, the Management Company on behalf of the UCITS, may effect a compulsory conversion of the relevant Units into the Units the requirements of which the Unitholder fulfils or effect a compulsory redemption (see section “Compulsory Redemption”). The Management Company has absolute discretion to accept or reject in whole or in part any application for Units. Consequently, the Management Company on behalf of the UCITS, reserves the right to reject subscription applications from investors that do meet the eligibility requirements of a particular Class. For more details including Unit-specific fees and expenses, please see Annex A. The UCITS Documentation pertains to all Classes. The Management Company may liquidate existing Classes and launch new Classes, in which case the UCITS Documentation will be updated accordingly.

Unit Classes. The Management Company may resolve to create one or more Classes of Units for any Sub-Fund as well as to terminate or consolidate existing Classes. The Classes may differ with respect to the application of income; distribution policy; subscription fees; redemption fees; denomination; currency hedging; remuneration for management; operations or other services; the minimum investment and minimum holding amount; distribution network; qualifying investors or other relevant differentiating terms / characteristics. As a result, due to the aforementioned differences in the terms / characteristics of a specific Class, the investment performance may vary across different Classes of a Sub-Fund despite that all Classes of such Sub-Fund feed into the same portfolio of assets. If a Class is issued in a currency different from the base currency of that Sub-Fund (as set out in Annex A), the Management Company may enter into currency hedging transactions to hedge against exchange rate fluctuations between such Class and the Sub-Fund. These hedging activities may cause both profit and loss, as the case may be. There can be no assurance that the currency hedging program will be entirely successful. The Management Company may terminate the currency hedging program. The profits and losses of such currency hedging will be allocated to the relevant Class. In setting up the Classes, the Management Company seeks to adhere to the following convention: a. Class A Units are generally distributing units, while Classes B, C, I1 and IM are generally reinvesting units. b. Subject to the decision of the Management Company in each particular case, Classes A and B are generally available to all eligible investors while Class I1 is generally reserved for either (a) institutional investors who invest directly or (b) private-law foundations, where such relevant foundation is investing indirectly on behalf of an institutional investor who is a beneficiary of such foundation or (c) and foundations with a charitable purpose or non-profit status according to private-law in their country of incorporationincorporation domicile. c. Class C comprises retrocession-free units. Unless the Management Company determines otherwise in its sole discretion, Class C shall be open for investment by (i) institutional investors; (ii) clients of banks in the United Kingdom of Great Britain and Northern Ireland and in the Netherlands; (iii) clients of LGT Group companies after signing a client services agreement; (iv) investors that have entered into advisory or discretionary management agreements with banks or asset management companies non-affiliated with LGT Group; and (v) investors that have entered into a cooperation agreement with the Management Company or its affiliate. d. Class IM charges no management fee and no performance fee. Unless the Management Company determines otherwise, Class IM shall be open for investment by (i) institutional investors that have an asset management agreement, an investment advisory agreement, a co-operation agreement or similar agreement with an LGT Group company or that are themselves investment programs managed, advised or distributed by an LGT Group company; (ii) LGT Group companies and companies in which LGT Group owns a direct or indirect economic interest; and (iii) employees of LGT Group companies, the members of the board of the Management Company; and (iv) private investors that have an asset management agreement with an LGT Group company, provided that the investment management function in such case is sub-delegated to LGT Capital Partners Ltd. or any of its affiliated entities. Institutional investors within the meaning of the above-described classes I1 and IM include in particular both domestic and foreign: - companies subject to financial markets and insurance supervision (banks, etc.); - institutions operating private or public-law occupational pension plans, including those of supranational organisations (pension funds, investment foundations, vested benefits foundations, banking foundations, etc.); - institutions operating private or public-law pension schemes, including those of supranational organisations; - collective investment schemes established under any jurisdiction and any legal form; - holding, investment or financial services companies or operating companies with professional treasury if investing for their own account; - single or multi-family offices with professional treasury; and - national, local or supranational entities established under public-law of any description. Assessment of institutional investor qualification in relation to clients that are serviced under an asset management agreement, is performed based on look-through to the ultimate beneficial owner; whereas, in such relationship professional treasury is considered to be met. The Management Company and/or the Depositary may at any time require the Unitholders to provide proof that they continue to meet the requirements for participation in a Class. To the extent that banks, securities traders or other institutional investors hold Units for the account of their clients, these organizations must, on request, provide proof that they hold these Units for the account of clients who individually meet the specified requirements. Unitholders who fail to furnish such evidence may be requested to comply or else to convert their Units into Units for which they meet the relevant requirements or redeem their Units or transfer them to a Unitholder who meets these requirements. Where the Unitholder fails to comply with this request, the Management Company on behalf of the UCITS, may effect a compulsory conversion of the relevant Units into the Units the requirements of which the Unitholder fulfils or effect a compulsory redemption (see section “Compulsory Redemption”). The Management Company has absolute discretion to accept or reject in whole or in part any application for Units. Consequently, the Management Company on behalf of the UCITS, reserves the right to reject subscription applications from investors that do meet the eligibility requirements of a particular Class. For more details including Unit-specific fees and expenses, please see Annex A. The UCITS Documentation pertains to all Classes. The Management Company may liquidate existing Classes and launch new Classes, in which case the UCITS Documentation will be updated accordingly.

Unit Classes. The Management Company may resolve to create one or more Classes of Units for any Sub-Fund as well as to terminate or consolidate existing Classes. The Classes may differ with respect to the application of income; distribution policy; subscription fees; redemption fees; denomination; currency hedging; remuneration for management; operations or other services; the minimum investment and minimum holding amount; distribution network; qualifying investors or other relevant differentiating terms / characteristics. As a result, due to the aforementioned differences in the terms / characteristics of a specific Class, the investment performance may vary across different Classes of a Sub-Fund despite that all Classes of such Sub-Fund feed into the same portfolio of assets. If a Class is issued in a currency different from the base currency of that Sub-Fund (as set out in Annex A), the Management Company may enter into currency hedging transactions to hedge against exchange rate fluctuations between such Class and the Sub-Fund. These hedging activities may cause both profit and loss, as the case may be. There can be no assurance that the currency hedging program will be entirely successful. The Management Company may terminate the currency hedging program. The profits and losses of such currency hedging will be allocated to the relevant Class. In setting up the Classes, the Management Company seeks to adhere to the following convention: a. Class A Units are generally distributing units, while Classes B, C, I1 and IM are generally reinvesting units. b. Subject to the decision of the Management Company in each particular case, Classes A and B are generally available to all eligible investors while Class I1 is generally reserved for either (a) institutional investors who invest directly or (b) private-law foundations, where such relevant foundation is investing indirectly on behalf of an institutional investor who is a beneficiary of such foundation or (c) and foundations with a charitable purpose or non-profit status according to private-law in their country of incorporationincorporation domicile. c. Class C comprises retrocession-free units. Unless the Management Company determines otherwise in its sole discretion, Class C shall be open for investment by (i) institutional investors; (ii) clients of banks in the United Kingdom of Great Britain and Northern Ireland and in the Netherlands; (iii) clients of LGT Group companies after signing a client services agreement; (iv) investors that have entered into advisory or discretionary management agreements with banks or asset management companies non-non- affiliated with LGT Group; and (v) investors that have entered into a cooperation agreement with the Management Company or its affiliate. d. Class IM charges no management fee and no performance fee. Unless the Management Company determines otherwise, Class IM shall be open for investment by (i) institutional investors that have an asset management agreement, an investment advisory agreement, a co-operation agreement or similar agreement with an LGT Group company or that are themselves investment programs managed, advised or distributed by an LGT Group company; (ii) LGT Group companies and companies in which LGT Group owns a direct or indirect economic interest; (iii) employees of LGT Group companies, the members of the board of the Management Company; and (iv) private investors that have an asset management agreement with an LGT Group company, provided that the investment management function in such case is sub-delegated to LGT Capital Partners Ltd. or any of its affiliated entities. Institutional investors within the meaning of the above-described classes I1 and IM include in particular both domestic and foreign: - companies subject to financial markets and insurance supervision (banks, etc.); - institutions operating private or public-law occupational pension plans, including those of supranational organisations (pension funds, investment foundations, vested benefits foundations, banking foundations, etc.); - institutions operating private or public-law pension schemes, including those of supranational organisations; - collective investment schemes established under any jurisdiction and any legal form; - holding, investment or financial services companies or operating companies with professional treasury if investing for their own account; - single or multi-family offices with professional treasury; and - national, local or supranational entities established under public-law of any description. Assessment of institutional investor qualification in relation to clients that are serviced under an asset management agreement, is performed based on look-through to the ultimate beneficial owner; whereas, in such relationship professional treasury is considered to be met. The Management Company and/or the Depositary may at any time require the Unitholders to provide proof that they continue to meet the requirements for participation in a Class. To the extent that banks, securities traders or other institutional investors hold Units for the account of their clients, these organizations must, on request, provide proof that they hold these Units for the account of clients who individually meet the specified requirements. Unitholders who fail to furnish such evidence may be requested to comply or else to convert their Units into Units for which they meet the relevant requirements or redeem their Units or transfer them to a Unitholder who meets these requirements. Where the Unitholder fails to comply with this request, the Management Company on behalf of the UCITS, may effect a compulsory conversion of the relevant Units into the Units the requirements of which the Unitholder fulfils or effect a compulsory redemption (see section “Compulsory Redemption”). The Management Company has absolute discretion to accept or reject in whole or in part any application for Units. Consequently, the Management Company on behalf of the UCITS, reserves the right to reject subscription applications from investors that do meet the eligibility requirements of a particular Class. For more details including Unit-specific fees and expenses, please see Annex A. The UCITS Documentation pertains to all Classes. The Management Company may liquidate existing Classes and launch new Classes, in which case the UCITS Documentation will be updated accordingly.

Unit Classes. The Management Company may resolve to create one or more Classes of Units for any Sub-Fund as well as to terminate or consolidate existing Classes. The Classes may differ with respect to the application of income; distribution policy; subscription fees; redemption fees; denomination; currency hedging; remuneration for management; operations or other services; the minimum investment and minimum holding amount; distribution network; qualifying investors or other relevant differentiating terms / characteristics. As a result, due to the aforementioned differences in the terms / characteristics of a specific Class, the investment performance may vary across different Classes of a Sub-Fund despite that all Classes of such Sub-Fund feed into the same portfolio of assets. If a Class is issued in a currency different from the base currency of that Sub-Fund (as set out in Annex A), the Management Company may enter into currency hedging transactions to hedge against exchange rate fluctuations between such Class and the Sub-Fund. These hedging activities may cause both profit and loss, as the case may be. There can be no assurance that the currency hedging program will be entirely successful. The Management Company may terminate the currency hedging program. The profits and losses of such currency hedging will be allocated to the relevant Class. In setting up the Classes, the Management Company seeks to adhere to the following convention: a. Class A Units are generally distributing units, while Classes B, C, I1 and IM are generally reinvesting units. b. Subject to the decision of the Management Company in each particular case, Classes A and B are generally available to all eligible investors while Class I1 is generally reserved for either (a) institutional investors who invest directly directly; or (b) private-law foundations, where such relevant foundation is investing indirectly on behalf of an institutional investor who is a beneficiary of such foundation foundation; or (c) foundations with a charitable purpose according to private-law in their country of incorporation. c. Class C comprises retrocession-free units. Unless the Management Company determines otherwise in its sole discretion, Class C shall be open for investment by (i) institutional investors; (ii) clients of banks in the United Kingdom of Great Britain and Northern Ireland and in the Netherlands; (iii) clients of LGT Group companies after signing a client services agreement; (iv) investors that have entered into advisory or discretionary management agreements with banks or asset management companies non-affiliated with LGT Group; and (v) investors that have entered into a cooperation agreement with the Management Company or its affiliate. d. Class IM charges no management fee and no performance fee. Unless the Management Company determines otherwise, Class IM shall be open for investment by (i) institutional investors that have an asset management agreement, an investment advisory agreement, a co-operation agreement or similar agreement with an LGT Group company or that are themselves investment programs managed, advised or distributed by an LGT Group company; (ii) LGT Group companies and companies in which LGT Group owns a direct or indirect economic interest; (iii) employees of LGT Group companies, the members of the board of the Management Company; and (iv) private investors that have an asset management agreement with an LGT Group company, provided that the investment management function in such case is sub-delegated to LGT Capital Partners Ltd. or any of its affiliated entities. Institutional investors within the meaning of the above-described classes I1 and IM include in particular both domestic and foreign: - companies subject to financial markets and insurance supervision (banks, etc.); - institutions operating private or public-law occupational pension plans, including those of supranational organisations (pension funds, investment foundations, vested benefits foundations, banking foundations, etc.); - institutions operating private or public-law pension schemes, including those of supranational organisations; - collective investment schemes established under any jurisdiction and any legal form; - holding, investment or financial services companies or operating companies with professional treasury if investing for their own account; - single or multi-family offices with professional treasury; and - national, local or supranational entities established under public-law of any description. Assessment of institutional investor qualification in relation to clients that are serviced under an asset management agreement, is performed based on look-through to the ultimate beneficial owner; whereas, in such relationship professional treasury is considered to be met. The Management Company and/or the Depositary may at any time require the Unitholders to provide proof that they continue to meet the requirements for participation in a Class. To the extent that banks, securities traders or other institutional investors hold Units for the account of their clients, these organizations must, on request, provide proof that they hold these Units for the account of clients who individually meet the specified requirements. Unitholders who fail to furnish such evidence may be requested to comply or else to convert their Units into Units for which they meet the relevant requirements or redeem their Units or transfer them to a Unitholder who meets these requirements. Where the Unitholder fails to comply with this request, the Management Company on behalf of the UCITS, may effect a compulsory conversion of the relevant Units into the Units the requirements of which the Unitholder fulfils or effect a compulsory redemption (see section “Compulsory Redemption”). The Management Company has absolute discretion to accept or reject in whole or in part any application for Units. Consequently, the Management Company on behalf of the UCITS, reserves the right to reject subscription applications from investors that do meet the eligibility requirements of a particular Class. For more details including Unit-specific fees and expenses, please see Annex A. The UCITS Documentation pertains to all Classes. The Management Company may liquidate existing Classes and launch new Classes, in which case the UCITS Documentation will be updated accordingly.

Unit Classes. The Management Company may resolve to create one or more Classes of Units for any Sub-Fund as well as to terminate or consolidate existing Classes. The Classes may differ with respect to the application of income; distribution policy; subscription fees; redemption fees; denomination; currency hedging; remuneration for management; operations or other services; the minimum investment and minimum holding amount; distribution network; qualifying investors or other relevant differentiating terms / characteristics. As a result, due to the aforementioned differences in the terms / characteristics of a specific Class, the investment performance may vary across different Classes of a Sub-Fund despite that all Classes of such Sub-Fund feed into the same portfolio of assets. If a Class is issued in a currency different from the base currency of that Sub-Fund (as set out in Annex A), the Management Company may enter into currency hedging transactions to hedge against exchange rate fluctuations between such Class and the Sub-Fund. These hedging activities may cause both profit and loss, as the case may be. There can be no assurance that the currency hedging program will be entirely successful. The Management Company may terminate the currency hedging program. The profits and losses of such currency hedging will be allocated to the relevant Class. In setting up the Classes, the Management Company seeks to adhere to the following convention: a. Class A Units are generally distributing units, while Classes B, C, I1 and IM are generally reinvesting units. b. Subject to the decision of the Management Company in each particular case, Classes A and B are generally available to all eligible investors while Class I1 is generally reserved for either (a) institutional investors who invest directly or (b) private-law foundations, where such relevant foundation is investing indirectly on behalf of an institutional investor who is a beneficiary of such foundation or (c) and foundations with a charitable purpose or non-profit status according to private-law in their country of incorporationincorporation domicile. c. Class C comprises retrocession-free units. Unless the Management Company determines otherwise in its sole discretion, Class C shall be open for investment by (i) institutional investors; (ii) clients of banks in the United Kingdom of Great Britain and Northern Ireland and in the Netherlands; (iii) clients of LGT Group companies after signing a client services agreement; (iv) investors that have entered into advisory or discretionary management agreements with banks or asset management companies non-affiliated with LGT Group; and (v) investors that have entered into a cooperation agreement with the Management Company or its affiliate. d. Class IM charges no management fee and no performance fee. Unless the Management Company determines otherwise, Class IM shall be open for investment by (i) institutional investors that have an asset management agreement, an investment advisory agreement, a co-operation agreement or similar agreement with an LGT Group company or that are themselves investment programs managed, advised or distributed by an LGT Group company; (ii) LGT Group companies and companies in which LGT Group owns a direct or indirect economic interest; (iii) employees of LGT Group companies, the members of the board of the Management Company; and (iv) private investors that have an asset management agreement with an LGT Group company, provided that the investment management function in such case is sub-delegated to LGT Capital Partners Ltd. or any of its affiliated entities. Institutional investors within the meaning of the above-described classes I1 and IM include in particular both domestic and foreign: - companies subject to financial markets and insurance supervision (banks, etc.); - institutions operating private or public-law occupational pension plans, including those of supranational organisations (pension funds, investment foundations, vested benefits foundations, banking foundations, etc.); - institutions operating private or public-law pension schemes, including those of supranational organisations; - collective investment schemes established under any jurisdiction and any legal form; - holding, investment or financial services companies or operating companies with professional treasury if investing for their own account; - single or multi-family offices with professional treasury; and - national, local or supranational entities established under public-law of any description. Assessment of institutional investor qualification in relation to clients that are serviced under an asset management agreement, is performed based on look-through to the ultimate beneficial owner; whereas, in such relationship professional treasury is considered to be met. The Management Company and/or the Depositary may at any time require the Unitholders to provide proof that they continue to meet the requirements for participation in a Class. To the extent that banks, securities traders or other institutional investors hold Units for the account of their clients, these organizations must, on request, provide proof that they hold these Units for the account of clients who individually meet the specified requirements. Unitholders who fail to furnish such evidence may be requested to comply or else to convert their Units into Units for which they meet the relevant requirements or redeem their Units or transfer them to a Unitholder who meets these requirements. Where the Unitholder fails to comply with this request, the Management Company on behalf of the UCITS, may effect a compulsory conversion of the relevant Units into the Units the requirements of which the Unitholder fulfils or effect a compulsory redemption (see section “Compulsory Redemption”). The Management Company has absolute discretion to accept or reject in whole or in part any application for Units. Consequently, the Management Company on behalf of the UCITS, reserves the right to reject subscription applications from investors that do meet the eligibility requirements of a particular Class. For more details including Unit-specific fees and expenses, please see Annex A. The UCITS Documentation pertains to all Classes. The Management Company may liquidate existing Classes and launch new Classes, in which case the UCITS Documentation will be updated accordingly.