Duty to Provide Information
Description of the Method for Fulfilling Obligations Under Sections 239 and 241 of Act No. 240/2013 Coll., on Investment Companies and Investment Funds
The manager of a special fund is required to fulfill its disclosure obligations to investors in accordance with Sections 239 and 241 of the ZISIF.
1/ Pursuant to Section 239 of the ZISIF, information shall be provided to investors as follows:
a) the current value of a unit, investment share, or other interest in the investment fund; and, each time securities or book-entry securities issued by the fund are issued or redeemed, information on the amount for which such securities or book-entry securities are issued or redeemed
posted on the website
b) for each calendar month, information on the number of securities or book-entry securities issued and redeemed, and
posted on the websit
c) for each calendar month, information on the composition of the fund’s assets as of the last day of the month.
posted on the website
2/ Pursuant to Section 241 of the ZISIF, information shall be provided to investors as follows:
a) the investment strategy of this fund, in particular
· the main types of assets that may be acquired for the fund’s portfolio,
· the investment limits that must be observed with respect to the assets referred to in point 1,
· information on fund management techniques and the conditions for their use,
as specified in the fund’s articles of association
b) information on the conditions for the use of leverage, including information on the types of transactions that may be entered into using leverage, the counterparties to such transactions, the risks associated with the use of leverage, and any limits on the degree of leverage,
as set forth in the fund’s articles of association
c) information on agreements providing for the provision of an investment instrument from the fund’s assets as financial collateral or comparable security under the law of a foreign country,
as set forth in the fund’s articles of association
d) information on the home country of its master fund, if it is a sub-fund, and information on the home countries of the investment funds or foreign investment funds in whose securities or book-entry securities it invests, if it invests more than 49% of the value of its assets in securities or book-entry securities issued by an investment fund or a foreign investment fund,
Not applicable (only in the case of master-feeder structures)
e) information on the conditions under which a change in the fund’s investment strategy may occur and the manner in which such a change is implemented,
specified in the fund’s articles of association
f) information on the main legal consequences relating to the investor’s contractual obligation in connection with their investment in the fund, in particular information on
· the jurisdiction for resolving disputes arising from the contract,
· the governing law for the contractual relationship, and
· the existence or absence of directly applicable European Union regulations or international treaties governing
as set forth in the fund’s articles of association
j) information on the procedures for valuing the fund’s assets and liabilities and the method of valuation, including the method for valuing assets that are difficult to value,
as set forth in the fund’s articles of association
k) information on the management of the fund’s illiquidity risk, including a description of the redemption of securities and book-entry securities issued by the fund under normal and extraordinary circumstances and in cases where redemption requests have already been submitted,
specified in the fund’s articles of association
l) information on all deductions, surcharges, fees, and expenses of the fund that are borne directly or indirectly by the investor, and an indication of their maximum amounts,
as set forth in the fund’s articles of association
m) information on whether, in the event that any investor obtains a special benefit or a right to a special benefit, other investors also have that benefit or right, a description of such special benefit or right to a special benefit, and a list of the investors who will receive such benefit or right, including a description of the legal and economic ties between these investors and the fund, or the fund manager and the fund administrator
Not applicable (investors do not receive any special benefits)
n) the fund’s most recent annual report complying with the requirements of Article 22 of the Directive of the European Parliament and of the Council on Alternative Investment Fund Managers,
available on the website
o) the procedures and conditions for the issuance and redemption of securities or book-entry securities issued by the fund,
as specified in the fund’s prospectus
p) information on the current value of this fund’s capital, or, where applicable, the current market price or current value of the securities or book-entry securities issued by this fund,
as specified on the website
q) information on the fund’s historical performance, if such information is available,
as specified in the fund’s prospectus
r) a description of the core services provided by the primary sponsor for this fund, a description of how any conflicts of interest arising from the services provided by the primary sponsor will be addressed, and information regarding any transfer of the primary sponsor’s liability to compensate for damages—which would otherwise be borne by the primary sponsor—to another party,
Not applicable (only if a primary sponsor exists)
s) information on provisions of the depositary agreement that allow for the transfer or further use of the fund’s assets by the depositary,
specified in the fund’s articles of association
t) information on how and when the data specified in paragraphs 3 and 4 are made available, i.e.,
- the proportion of the fund’s total assets that is subject to special measures due to its low liquidity; this figure shall be expressed as a percentage,
- new measures adopted to manage the fund’s illiquidity risk, and
- the fund’s risk profile and the risk management system applied by the manager.
If the fund invests using leverage:
- changes in the degree of leverage, guarantees provided in connection with the use of leverage, as well as any changes regarding the authorization to continue using the provided financial collateral or comparable security under the law of a foreign country, and
- the degree of leverage used by this fund.
as stated on the website
u) information on whether the depositary has agreed with the authorized party under Section 82(1)(b) on compensation by the authorized party for the loss of investment instruments, as well as information on any changes to and the nature of such changes to this agreement.
Stated in the fund’s articles of association
v) information regarding sustainability risks pursuant to Article 6(1) of Regulation (EU) 2019/2088 of the European Parliament and of the Council²¹ and information pursuant to Articles 5 through 7 of Regulation (EU) 2020/852 of the European Parliament and of the Council²².
as stated on the website
The fund manager shall provide all of the above information in an impartial and clear manner and in such a way that the information is not misleading. This information shall be updated regularly and reviewed periodically as necessary.