Universe, The CMI Global Network Fund - Clerical Medical

Universe, The CMI Global Network Fund
NOTES TO THE FINANCIAL STATEMENTS - continued
13. NOTIONAL COMMISSION
The notional commission is a provision calculated in order to pay the broker fees arising on the sales of securities when a large redemption is
registered.
It is calculated on a daily basis at the rates shown below. There is no notional commission for the Universe Bond sub-funds and the Currency
Reserve sub-funds. A global percentage applied to the market value of the portfolio is determined for the following sub-funds:
Sub-fund name
Notional commission
rate
CMI Continental European Equity 0.200%
CMI German Equity 0.200%
CMI Pacific Basin Enhanced Equity 0.350%
CMI Japan Enhanced Equity 0.180%
CMI US Enhanced Equity 0.200%
CMI UK Equity 0.125%
Euro Equity Index Tracking 0.200%
Japan Equity Index Tracking 0.180%
UK Equity Index Tracking 0.125%
US Equity Index Tracking 0.200%
CMI Global Mixed 0.175%
CMI Global Equity 0.250%
CMIG Access 80% 0.200%
CMI European Enhanced Equity 0.200%
HLE Euro-Garant 80 Flex 0.200%
CMIG Access 70% Flexible 0.200%
CMIG Access 80% Flexible 0.200%
CMIG Access 90% Flexible 0.200%
HLE Euro-Garant 70 Flex 0.200%
HLE Euro-Garant 90 Flex 0.200%
According to the daily net amount of redemptions and subscriptions per sub-fund, a single price will be determined according to the following
process:
The Dealing Price per Share will be rounded up to a maximum of 0.30 % of the Net Asset Value of that class. If the Directors expect that there will
be overall net redemptions over a longer period of time, the Directors will consider to change the aforesaid pricing policy in a manner that the
Dealing Price per Share will be rounded down to a maximum of 0.30% of the Net Asset Value. In any case, the rounding down will be applied if on
any Dealing Day net redemptions exceed 10% of the Net Asset Value of the relevant Class. The purpose of such rounding is to cover dealing costs
which normally arise, upon net subscriptions, from acquiring new investments or, upon net redemptions, the sale of investments.
14. HLE Euro-Garant Flex sub-funds
- HLE Euro-Garant 80 Flex sub-fund. At any time, the dealing price at which investors may redeem their shares cannot fall below 80% of the highest
Net Asset Value per share achieved by the sub-fund since its launch.
- HLE Euro-Garant 70 Flex sub-fund. At any time, the dealing price at which investors may redeem their shares cannot fall below 70% of the highest
Net Asset Value per share achieved by the sub-fund since its launch.
- HLE Euro-Garant 90 Flex sub-fund. At any time, the dealing price at which investors may redeem their shares cannot fall below 90% of the highest
Net Asset Value per share achieved by the sub-fund since its launch.
15. Cash Injection in the HLE Euro-Garant 70 Flex and HLE Euro-Garant 90 Flex sub-funds.
It was resolved that Heidelberger Lebensversicherung AG inject:
a) an amount of EUR 18,100.18 in the HLE Euro-Garant 70 Flex sub-fund and EUR 6,054.53 in the HLE Euro-Garant 90 Flex sub-fund.
b) these amounts be considered as an exceptional gift for the sub-funds, which are not payable.
c) no shares were issued in relation to these transactions.
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