Privileged Investors - BNP Paribas Investment Partners

income of the Fund is applied in accordance with the Articles and that the sale, issue,
redemption and cancellation of Shares is effected in accordance with the Luxembourg
law and the Articles.
3. An agreement dated April 11, 2007 between the Fund, the investment manager and the
administrator pursuant to which the latter was appointed as the Fund’s administrator.
The administrator is responsible for the general administrative functions required by
Luxembourg law, such as the issue and repurchase of Shares, calculation of the Net
Asset Value and maintenance of accounting records.
4. An agreement dated 29 October 2001 between the Fund and the Listing Agent, being
BGL Société Anonyme (named Fortis Banque Luxembourg S.A.), pursuant to which the
latter was approved as the Fund's Listing Agent.
From September 27, 2007, the Fund is granted a credit facility from Fortis Bank
(Nederland) N.V. which is secured by the Fund’s assets. Custody of the collateral
required by the credit facility is with Fortis Banque Luxembourg S.A..
From June 4, 2008 until December 31, 2008, the Fund is granted an uncommitted credit
facility from Fortis Bank (Nederland) N.V. which is secured by the Fund’s assets.
Custody of the collateral required by the credit facility is with BGL Société Anonyme
(named Fortis Banque Luxembourg S.A.). As this is an uncommitted facility, no
commitment fees are due by the Fund to Fortis Bank (Nederland) N.V..
The credit facility agreement granted to each sub-fund of the Sicav and the pledge
agreement in relation as well to each sub-fund of the Sicav were terminated with effect
from January 30, 2009.
Regarding the fees to be paid by the Fund, please see Item (10) above heading “ Fees
credit facilities “.
No other agreements than those mentioned above and no outsourcing agreements with
affiliated parties have been concluded by the Fund.
The Fund does not hold any investments which qualify as a “deelneming”.
In case transactions with affiliated parties are entered into outside a regulated market,
securities exchange or other regulated market, which operates regularly and is recognised
and open to the public, such transactions shall in all cases be conducted under usual market
conditions and based on an independent valuation.
(15) Amount of transactions made in non regulated markets
All the transactions of the Fund have been made in regulated markets or on security stock
exchanges.
(16) Subscription and redemption instruction procedure
Applicants who wish to subscribe or redeem CMNF A a Shares, CMNF A d Shares, CMNF I a
Shares, CMNF I d Shares, CMNF C a Shares, CMNF C d Shares, CMNF Q a Shares, CMNF Q d
Shares, CMNF E a Shares, CMNF E d Shares, CMNF X a Shares, CMNF X d Shares, CMDF A a
Shares, CMDF A d Shares, CMDF I a Shares, CMDF I d Shares, CMDF C a Shares, CMDF C d
Shares, CMDF Q a Shares, CMDF Q d Shares, CMDF E a Shares, CMDF E d Shares, CMDF X a
Shares, CMDF X d Shares,
must send the application to the administrator in Luxembourg.
For the purpose of the prior notice requirements, all applications for subscriptions and
redemptions shall be deemed to be received at the time they are received by the
administrator in Luxembourg.
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