Ordinance on Investment Undertakings (Investment Undertakings ...

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Article 17 Straight-line depreciation and appreciation 1) In the case of investments in transferable securities or money market instruments with a term to maturity of less than 12 months, the difference between the cost price (acquisition price) and the redemption price (price at the final due date) may be depreciated or appreciated on a straight-line basis and valuation at the current market price may be omitted if the redemption price is known and fixed. This provision is subject to any adjustment due to changes in creditworthiness. 2) Straight-line depreciation shall not be permissible for bond funds. Article 18 Capital gains and capital losses 1) Gains and losses arising from the sale of property and rights belonging to investment undertakings shall be posted to the account "Capital gains and capital losses" of the income statement over the course of the accounting year. 2) Realized capital gains of the accounting period may also be distributed if previous accounting years exhibit capital losses. Article 19 Revaluations and write-offs Revaluations of the investments and write-offs on the income statement shall not be permissible, except for: a) straight-line depreciation according to article 17; b) revaluation of construction sites and buildings on which construction has commenced by including construction interest at the usual market rate, to the extent that this does not increase the investment costs of the object in question above the estimated market value; c) write-offs on real property appropriate under the circumstances; and d) write-offs of capitalized formation expenses when establishing an investment undertaking. 10
Article 20 Business report and half-yearly report 1) The business report shall include the following information with any applicable explanations: a) the annual accounts, consisting of an assets statement at market values and an income statement, as well as information on the use of profits; b) the number of units redeemed and newly issued in the reporting year and the closing inventory of the units issued; c) the inventory of the assets at market values and the derived value (net asset value) of a unit of the assets as of the last day of the accounting year; d) changes to the composition of the transferable security inventory over the reporting period; e) the depositaries mandated by the depositary bank; f) the names of the persons to which investment decisions have been delegated; g) information on matters of particular economic or legal importance with which the management company dealt in the reporting year, especially concerning amendments to the full and the simplified prospectuses or concerning significant questions of interpretation of law and the full prospectus; h) a short report of the external audit office on the above information, in the case of real estate also on the information according to articles 24 and 25; i) a comparative overview of the latest three fiscal years with respect to the development of the net assets and the value of a unit; and k) the commissions and costs according to article 11 (statement of TER). 2) The half-yearly report shall contain unaudited assets and income statements and the information according to paragraph 1, subparagraphs (b), (c), and (d). 3) The business report and the half-yearly report shall be structured in accordance with Annex 3. 11
Page 1 and 2: Ordinance of 23 Au
Page 3 and 4: tractually governed forward transac
Page 5 and 6: Article 8 Name 1) The name of an in
Page 7 and 8: a) the full prospectuses so provide
Page 9: 5. Business report, half-yearly rep
Page 13 and 14: Article 23 Quarterly reporting 1) T
Page 15 and 16: thorize additional cancellation dea
Page 17 and 18: 5) Amendments to the prospectus for
Page 19 and 20: 1. accounting services required by
Page 21 and 22: pecially in the event of insolvency
Page 23 and 24: D. Investment rules 1. Investment u
Page 25 and 26: ments), if they are permissible as
Page 27 and 28: nized international accounting prov
Page 29 and 30: article 39 and article 43, paragrap
Page 31 and 32: ) Special limitations Article 45 In
Page 33 and 34: creditworthiness risk, etc.), an in
Page 35 and 36: term loans for repaying units, up t
Page 37 and 38: Article 55 Special requirements 1)
Page 39 and 40: Article 58 Securing liabilities 1)
Page 41 and 42: considered unsegmented. All documen
Page 43 and 44: Article 68 Forms With respect to se
Page 45 and 46: Article 72 Volume and term 1) If it
Page 47 and 48: Article 78 Special obligations of t
Page 49 and 50: m) a confirmation by the Office of
Page 51 and 52: 4) The organization, in particular
Page 53 and 54: Article 87 b) Equity position If th
Page 55 and 56: V. Supervision of management compan
Page 57 and 58: Article 95 Foreign audit offices A
Page 59 and 60: a) the accounts are being kept prop
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a) the accuracy of the business and
Page 63 and 64:
) the information concerning issue,
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Minimum content of the full prospec
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*2.1 designation or company name, d
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4.2 main activity. 5 Information on
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2.5 profile of the typical investor
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niques and instruments, especially
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2. Off-balance-sheet operations The
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6. Number of units in circulation 6
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1.4.2 buildings on which constructi
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5. Change of net assets For each in
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account. 83
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Ordinance on Investment Undertakings (Investment Undertakings ...

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