Common use of Application of Income Clause in Contracts

Application of Income. The success of a UCITS results from the net income and the realised gains. The management company can distribute the profits from a UCITS or share class to the investors of this UCITS or share class, or reinvest it in the respective UCITS or share class (plough back). The profits of a UCITS or share class which, in accordance with Ap- pendix A "The Fund at a glance", shows profits utilisation of the “reinvested” type, are continuously reinvested, i.e. ploughed back. Realized capital gains from the disposal of goods and rights shall be retained by the management company for reinvestment. The generated coupons income of a UCITS or share class which, in accordance with Appendix A "The Fund at a glance", shows profits utilisation of the 'distributing' type, are available at maximum. For share classes which have an annual distribution, any distributions will be made within four months after end of the financial year. For share classes which have a quarterly distribution, any distribu- tions will be made within one month after end of respective quarter. The management company determines the final distribution amount per share. The distributions will be allocated to the respective share class. Dis- tributions shall be paid out on the shares issued on the distribution date. From the time of their maturity, no interest shall be paid on de- clared distributions. Realized capital gains from the disposal of goods and rights may be retained by the management company for reinvestment.

Application of Income. The success of a UCITS results from the net income and the realised gains. The management company can distribute the profits from a UCITS or share class to the investors of this UCITS or share class, or reinvest it in the respective UCITS or share class (plough back). The profits of a UCITS or share class which, in accordance with Ap- pendix A "The Fund at a glance", shows profits utilisation of the “reinvested” type, are continuously reinvested, i.e. ploughed back. Realized capital gains from the disposal of goods and rights shall be retained by the management company for reinvestment. The generated coupons income of a UCITS or share class which, in accordance with Appendix A "The Fund at a glance", shows profits utilisation of the 'distributing' type, are available at maximum. For share classes which have an annual distribution, any distributions will be made within four months after end of the financial year. For share classes which have a quarterly distribution, any distribu- tions will be made within one month after end of respective quarter. The management company determines the final distribution amount per share. The distributions will be allocated to the respective share class. Dis- tributions shall be paid out on the shares issued on the distribution date. From the time of their maturity, no interest shall be paid on de- clared distributions. Realized capital gains from the disposal of goods and rights may be retained by the management company for reinvestment.