ANIMA FUND - ANIMA Sgr

In the case of securities lending transactions, the Management Company, acting in the name of the Fund
must, receive a collateral, the value of which should at least correspond to the total value of the securities
lent out and any accrued interest thereon.
This collateral must consist of cash and cash equivalents and/or securities issued or guaranteed by an
OECD member country or its public central, regional and local authorities or international organisations,
and which are blocked in the Fund’s name until the expiry of the respective agreement. Such a guarantee
is not required if the securities lending transaction is carried out by Clearstream International or Euroclear
or another organisation which guarantees that the value of the securities lent out will be refunded.
11.2.4.2 Securities repurchase agreements
The Management Company, acting in the name of the Fund, may, for any Subfund, engage on an
ancillary basis in repurchase agreements involving the purchase and sale of securities where the seller has
the right or obligation to repurchase the securities sold from the buyer at a fixed price and within a certain
period stipulated by both parties upon conclusion of the agreement.
Acting for account of the Fund, the Management Company may enter into repurchase transactions either
as a buyer or a seller. However, any transactions of this kind are subject to the following guidelines:
- Securities may only be purchased or sold under a repurchase agreement if the counterparty is a
first class financial institution specialising in this kind of transaction.
- as long as the repurchase agreement is valid, the securities bought cannot be sold before the
right to repurchase the securities has been exercised or the repurchase period has expired.
- in addition, it must be ensured that the volume of repurchase agreements of each Subfund is
structured in such a way that the Subfund can meet its redemption obligations towards its
unitholders at any time.
11.2.4.3 Other techniques and instruments
The techniques and instruments mentioned above may be modified by the Management Company if new
instruments and techniques are developed and offered on the financial market, under the condition that they are in
conformity with the investment policy and restrictions of the Subfund in question and with the Luxembourg 2010
Law.
12 Management and organisation
The exclusive object of the Management Company is the creation and management of one or more undertakings
for collective investment under Luxembourg law, with the administration of its own assets being only on an
ancillary basis.
Acting in its own name, but for account of the unitholders of the fonds commun de placement, it may effect the
transactions necessary for the realisation of its business object, while remaining within the limits of Article 13 of the
2010 Law.
The Fund is managed by the Management Company for account of the unitholders. The Management Company
was established in Luxembourg on 10 July 1997 as a société anonyme under Luxembourg law. Its registered office
is located at 33A avenue J.F. Kennedy, L-1855 Luxembourg. The Articles of Incorporation of the Company were
lodged with the Registry of the District Court of Luxembourg and published in the Mémorial on 18 August 1997
and for the last time on 23 November 2010 following the Extraordinary General Meeting of shareholders held on
03 November 2010.
The Company is registered with the Registre de Commerce of the District of Luxembourg under number B 60 170.
The exclusive object of the Management Company is the creation and management of one or more fonds commun
de placement under Luxembourg law, with the administration of its own assets being only on an ancillary basis.
Acting in its own name, but for account of the unitholders of the Fund, it may effect the transactions necessary for
the realisation of its business object, while remaining within the limits of the 2010 Law, in conformity with Article 3
of the coordinated Articles of Association and Article 2 of the Management Regulations. It may, at the expense of
the Fund, seek the assistance of other establishments or companies in the implementation of the investment policy
of the Fund.
The capital of the Management Company is EUR 125,000, fully paid in, represented by 5,000 shares of EUR 25
each, fully owned by Anima SGR SpA.
The Management Company has been established for an unlimited period of time.
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