Common use of Issue of Units Clause in Contracts

Issue of Units. Units of a sub-fund may be acquired in accordance with Appendix A "Overview of the sub-fund" at the net asset value per unit of the corresponding unit class of the corresponding sub-fund, plus the possible due issue premium and plus any possible taxes and duties. The units are not certificated as securities. Subscription applications must be submitted to the Custodian at the latest by the acceptance deadline. If a subscription order is received after the acceptance deadline, it shall be reserved for the following valuation date. In the case of orders placed with distribution agents in Liechtenstein and abroad, earlier deadlines for the subscription of orders may be set to ensure the punctual forwarding of these orders to the Custodian in Liechtenstein. These deadlines may be obtained from the individual distribution agents. Information about the issue date, the valuation interval, the acceptance deadline as well as the level of the possible due maximum issue premium is set out in Appendix A "Overview of the sub-fund". The payment must be received within two bank working days following the valuation date on which the issue price of the units was stipulated. The Management Company shall ensure that the issue of units is settled on the basis of a net asset value per unit that is unknown to the Investor at the time of the application (forward pricing). All taxes and duties incurred in conjunction with the issue of units shall also be charged to the Investor. If units are ac- quired through banks that have not been entrusted with the distribution of the units, it shall not be possible to exclude the possibility that such banks may impose additional transaction charges. If the payment is made in a currency other than the reference currency, the equivalent sum derived from the conversion of the payment currency into the reference currency, less any possible charges, shall be used to acquire units. The minimum investment that must be held by an Investor in a specific unit class is set out in Appendix. A, "Overview of the sub-fund". The minimum investment may be waived at the complete discretion of the Management Company. The Management Company may furthermore also decide to suspend the issue of units on a complete or temporary basis if new investments might hinder the attainment of the investment objective. At the request of an Investor, units may with the approval of the Management Company also be subscribed in return for the assignment of investments at the respective daily rate (contribution of tangible assets or payment in specie). The Management Company is not obliged to accept an application of this nature. Contributions in kind shall be assessed and evaluated by the Management Company on the basis of objective criteria. The assigned investments must be in accordance with the investment policy of the corresponding sub-fund, and a cur- rent investment interest in the stocks must exist in the view of the Management Company. The value of the contributions in kind must be assessed by the Auditors. All costs incurred in this conjunction (including the cost of the auditor, other expenses as well as possible taxes and duties) shall be borne by the respective Investor and may not be charged to the respective sub-fund. The issue of units shall in particular be temporarily suspended if the net asset value per unit ceases to be calculated. If units cease to be issued, the Investors shall be informed without delay in the organ of publication as well as in the media specified in the Prospectus and in the Trust Agreement or by means of permanent data carriers (letter, fax, e-mail or comparable) about the reason and the timing of the cessation.

Issue of Units. Units of a sub-fund may shall be acquired in accordance with Appendix A "Overview of the sub-fund" issued on every issue date at the net asset value per unit of the corresponding AIF or unit class of as at the corresponding sub-fundvaluation date, plus the possible due any applicable issue premium commission and plus any possible taxes and duties. The units are exist only in book-entry form. Units shall not certificated as securitiesbe issued or redeemed in fractions. No physical unit certificates shall be issued. Subscription applications must be submitted to reach the Custodian at the latest by Depositary not later than the acceptance deadline. If a subscription order application is received after the acceptance deadline, it shall be reserved held over for the following valuation next issue date. In With the case agreement of orders the investor concerned the AIFM may accept subscription applications even after said deadline, providing this does not disadvantage other investors. For applications placed with distribution agents authorised distributors in Liechtenstein and abroad, earlier deadlines for the subscription of orders may be set for submission of applications in order to ensure the punctual forwarding of these orders to the Custodian Depositary in Liechtenstein. These Such earlier deadlines may be obtained from the individual distribution agentsrelevant authorised distributor. Information about on the issue date, the valuation interval, the acceptance deadline as well as and the level maximum amount of the possible due maximum any applicable issue premium commission is set out given in Appendix A Annex B, "Overview of the sub-fundAIF summary". Payment must be made within a specified period (value date). The value date is indicated in Annex B, "AIF summary". The payment must be received within two bank working days following the valuation date on which the issue price of the units was stipulated. The Management Company AIFM shall ensure that the issue of settlement for newly issued units is settled made on the basis of a net asset value per unit that is unknown to the Investor investor at the time of the subscription application was made (forward pricing). All taxes and duties incurred in conjunction with payable on the issue of units shall also likewise be charged to the Investorinvestors. If units are ac- quired acquired through banks that have are not been entrusted with the distribution of distributing the units, it shall the possibility cannot be possible to exclude the possibility ruled out that such banks may impose will levy additional transaction charges. If the payment is made in a currency other than the reference accounting currency, the equivalent sum derived value resulting from the conversion of the payment currency into the reference accounting currency, less any possible chargesminus fees, shall be used applied to acquire the purchase of units. The minimum investment that an investor must be held by an Investor hold in a specific particular unit class is set out stated in Appendix. AAnnex B, "Overview of the sub-fundAIF summary". The minimum investment may be waived at the complete discretion of the Management Company. The Management Company may furthermore also decide to suspend the issue of units on a complete or temporary basis if new investments might hinder the attainment of the investment objective. At the request of an Investor, units may with the approval of the Management Company also be subscribed in return for the assignment of investments at the respective daily rate (contribution of tangible assets or payment in specie). The Management Company is not obliged to accept an application of this nature. Contributions in kind shall not be assessed and evaluated by the Management Company on the basis of objective criteriapermitted. The assigned investments must AIFM and the Depositary shall be entitled at any time to reject a subscription application or to temporarily restrict, suspend or permanently halt the issue of units if they deem such a move to be in accordance with the investment policy best interests of the corresponding sub-fundinvestors, and a cur- rent investment interest in the stocks must exist in public interest or necessary for the view protection of the Management Company. The value AIFM, the AIF or the investors and in particular if (i) there is cause to suspect that, in acquiring the units, the investors concerned are engaging in market timing, late trading or other market techniques that may be to the collective detriment of the contributions investors, (ii) the investors do not meet the conditions for acquiring the units, or (iii) the units have been distributed in kind must be assessed by a country in which the AuditorsAIF is not approved or authorised. All costs incurred In this event the Depositary shall reimburse, without interest, any payments received in this conjunction (including respect of subscription applications that have not yet been executed1, where necessary through the cost offices of the auditor, other expenses as well as possible taxes and duties) shall be borne by the respective Investor and may not be charged to the respective sub-fundpaying agents. The issue of Fund units shall in particular may be temporarily suspended if the net asset value per unit ceases to be calculated. If units cease to be issued, the Investors shall be informed without delay in the organ eventualities envisaged in Art. 32 of publication as well as in the media specified in the Prospectus and in the this Trust Agreement or by means of permanent data carriers (letter, fax, e-mail or comparable) about the reason and the timing of the cessationAgreement.

Issue of Units. Units of a sub-fund may shall be acquired in accordance with Appendix A "Overview of the sub-fund" issued on each valuation day (issue day) at the net asset value per unit of the corresponding respective unit class of the corresponding sub-fund, UCITS plus the possible due issue premium premium, if any, and plus any possible taxes and dutiescharges, if any. The units are not certificated as securitiessecuritized. The prospectus: Participation in the UCITS Subscription applications requests must be submitted to the Custodian at the latest received by the depositary on the acceptance deadlinedead- line by the latest. If a subscription order request is received after the acceptance deadline, it shall will be reserved for processed on the next following valuation dateissue day. In the case of orders placed with distribution agents Purchase or redemption requests submitted to distributors in Liechtenstein and abroad, or abroad may be subject to earlier deadlines for the subscription of orders may in order to assure that they can be set to ensure the punctual forwarding of these orders forwarded to the Custodian depositary in LiechtensteinLiechtenstein in a timely manner. These deadlines may be obtained from On request, the individual distribution agentsrespective distributors will provide pertinent infor- mation. Information about on the issue dateday, the valuation interval, the acceptance deadline as well as deadline, and the level of the possible due maximum issue premium premium, if any, is set out provided in Appendix Annex A "Overview of the sub-fundThe UCITS at a glance". The payment must be received within two bank working 3 banking days following after the valuation date on which the respective issue price of the units was stipulatedday. The Management Company management company shall ensure assure that the issue of units is settled shall be booked on the basis of a net asset value per unit that is unknown not known to the Investor investor at the time of the application request (forward pricing). All taxes and duties fees incurred in conjunction with the issue of units shall also be charged to the Investorinvestor as well. If units are ac- quired through purchased via banks that have are not been entrusted with the distribution dis- tribution of the units, it shall cannot be possible to exclude the possibility excluded that such banks may impose will charge additional transaction chargescosts. If the payment is made in a currency other than the reference accounting currency, the equivalent sum derived resulting from the conversion of the payment currency into the reference accounting currency, less any possible charges, shall be used to acquire for the purchase of units. The minimum investment that must to be held by an Investor investor in a specific unit class is set out indicated in Appendix. A, Annex A "Overview of the sub-fundThe UCITS at a glance". The minimum investment may be waived at the complete discretion of the Management Companymanagement company. Contributions in kind are not permitted. The Management Company may furthermore also decide management company may, in addition, take a decision to permanently or tem- porarily suspend the issue of units on a complete or temporary basis if new investments might hinder may impair the attainment achievement of the investment objective. At The depositary and/or the management company and/or the distributor may at any time reject a subscription request or temporarily limit or suspend or discontinue the is- sue of an Investorunits if this appears to be necessary in the public interest or to protect the man- agement company or the UCITS or the investors. In this case, units the depositary will in- stantly refund, less interest, incoming payments for subscription requests that have yet to be fulfilled, and for this purpose may with enlist the approval help of the Management Company also be subscribed in return for the assignment of investments at the respective daily rate (contribution of tangible assets or payment in specie). The Management Company is not obliged to accept an application of this nature. Contributions in kind shall be assessed and evaluated by the Management Company on the basis of objective criteria. The assigned investments must be in accordance with the investment policy of the corresponding sub-fund, and a cur- rent investment interest in the stocks must exist in the view of the Management Company. The value of the contributions in kind must be assessed by the Auditors. All costs incurred in this conjunction (including the cost of the auditor, other expenses as well as possible taxes and duties) shall be borne by the respective Investor and may not be charged to the respective sub-fundpaying agents if neces- sary. The issue of units shall in particular be temporarily suspended if in particular is the calculation of the net asset value per unit ceases to be calculatedis suspended. If the issue of units cease to be issuedis suspended, the Investors investors shall be immediately informed without delay in of the organ reasons and duration of publication the suspension via the official gazette as well as the media mentioned in the prospectus or via durable media specified in the Prospectus and in the Trust Agreement or by means of permanent data carriers (letterlet- ter, fax, e-mail or comparable) about the reason and the timing of the cessationsimilar).

Issue of Units. Units of a sub-fund may shall be acquired issued on the acceptance deadline for unit transactions in accordance with Appendix A "Overview of the sub-fund" at the net asset value per unit of the corresponding unit class of the corresponding sub-fund, plus the possible due issue premium and plus any possible taxes and duties. The units are not certificated as securities. Subscription applications must be submitted to the Custodian at the latest by the acceptance deadline. If a subscription order is received after the acceptance deadline, it shall be reserved for the following valuation date. In the case of orders placed with distribution agents in Liechtenstein and abroad, earlier deadlines for the subscription of orders may be set to ensure the punctual forwarding of these orders to the Custodian in Liechtenstein. These deadlines may be obtained from the individual distribution agentsDistribution Agents. Information about the issue date, the valuation interval, the acceptance deadline as well as the level of the possible due maximum issue premium pre- mium is set out in Appendix A "Overview of the sub-fund". The payment must be received within two bank working days following the valuation date on which the issue price of the units was stipulated. The Management Company shall ensure that the issue of units is settled on the basis of a net asset value per unit that is unknown to the Investor at the time of the application (forward pricing). All taxes and duties incurred in conjunction with the issue of units shall also be charged to the Investor. If units are ac- quired through banks that have not been entrusted with the distribution of the units, it shall not be possible to exclude the possibility that such banks may impose additional transaction charges. If the payment is made in a currency other than the reference currency, the equivalent sum derived from the conversion of the payment currency into the reference currency, less any possible charges, shall be used to acquire units. The minimum investment that must be held by an Investor in a specific unit class is set out in Appendix. A, "Overview of the sub-fund". The minimum investment may be waived at the complete discretion of the Management Company. The Management Company may furthermore also decide to suspend the issue of units on a complete or temporary basis if new investments might hinder the attainment of the investment objective. At the request of an Investor, units may with the approval of the Management Company also be subscribed in return for the assignment of investments at the respective daily rate (contribution of tangible assets or payment in specie). The Management Company is not obliged to accept an application of this nature. Contributions in kind shall be assessed and evaluated by the Management Company on the basis of objective criteria. The assigned investments must be in accordance with the investment policy of the corresponding sub-fund, and a cur- rent investment interest in the stocks must exist in the view of the Management Company. The value of the contributions in kind must be assessed by the Auditors. All costs incurred in this conjunction (including the cost of the auditor, other expenses as well as possible taxes and duties) shall be borne by the respective Investor and may not be charged to the respective sub-fund. The Custodian and/or the Management Company may reject a subscription application at any time or may temporarily restrict or definitively discontinue the issue of units if this is deemed necessary in the interest of the Investors, in the pub- lic interest, to protect the Management Company or the respective sub-fund or the Investors. In this case the Custodian shall in particular reimburse incoming payments on subscription applications that have not yet been executed, without interest. If nec- ▇▇▇▇▇▇, this shall be temporarily performed with the support of the Payment Agents. The issue of Fund units may be suspended if the net asset value per unit ceases to be calculatedArt. If units cease to be issued, the Investors shall be informed without delay in the organ of publication as well as in the media specified in the Prospectus and in the Trust Agreement or by means of permanent data carriers (letter, fax, e-mail or comparable) about the reason and the timing of the cessation12 is applicable.

Issue of Units. Units of a sub-fund may shall be acquired in accordance with Appendix A "Overview of the sub-fund" issued on each valuation day (issue day) at the net asset value per unit of the corresponding respective unit class of the corresponding sub-fund, UCITS plus the possible due issue premium premium, if any, and plus any possible taxes and dutiescharges, if any. The units are not certificated as securitiessecuritized. Subscription applications requests must be submitted to the Custodian at the latest received by the depositary on the acceptance deadlinedeadline by the latest. If a subscription order request is received after the acceptance deadline, it shall will be reserved for processed on the next following valuation dateissue day. In the case of orders placed with distribution agents Purchase or redemption requests submit- ▇▇▇ to distributors in Liechtenstein and abroad, or abroad may be subject to earlier deadlines for the subscription of orders may in or- der to assure that they can be set to ensure the punctual forwarding of these orders forwarded to the Custodian depositary in LiechtensteinLiechtenstein in a timely manner. These deadlines may be obtained from On request, the individual distribution agentsrespective distributors will provide pertinent information. Information about Infor- mation on the issue date, the valuation intervalday, the acceptance deadline as well as deadline, and the level of the possible due maximum issue premium premium, if any, is set out provided in Appendix Annex A "Overview of the sub-fundThe UCITS at a glance". The payment must be received within two bank working 3 banking days following after the valuation date on which the respective issue price of the units was stipulatedday. The Management Company management company shall ensure assure that the issue of units is settled shall be booked on the basis of a net asset value per unit that is unknown not known to the Investor investor at the time of the application re- quest (forward pricing). All taxes and duties fees incurred in conjunction with the issue of units shall also be charged to the Investorinvestor as well. If units are ac- quired through purchased via banks that have are not been entrusted with the distribution distribu- tion of the units, it shall cannot be possible to exclude the possibility excluded that such banks may impose will charge additional transaction chargestransac- tion costs. If the payment is made in a currency other than the reference currency, the equivalent sum derived amount resulting from the conversion of the payment currency into the reference currencyaccounting cur- rency, less any possible charges, shall be used to acquire for the purchase of units. The trust agreement: Art. 7 Issue of units The minimum investment that must to be held by an Investor investor in a specific unit class is set out indicated in Appendix. A, Annex A "Overview of the sub-fundThe UCITS at a glance". The minimum investment may be waived at the complete discretion dis- cretion of the Management Companymanagement company. Contributions in kind are not permitted. The Management Company may furthermore also decide to suspend the issue of units on a complete in whole or temporary basis in part if new investments might hinder could affect the attainment achievement of the investment objective. At The depositary and/or the management company and/or the distributor may at any time reject a subscription request of an Investor, units may with or temporarily limit or suspend or discontinue the approval of the Management Company also be subscribed in return for the assignment of investments at the respective daily rate (contribution of tangible assets or payment in specie). The Management Company is not obliged to accept an application of this nature. Contributions in kind shall be assessed and evaluated by the Management Company on the basis of objective criteria. The assigned investments must be in accordance with the investment policy of the corresponding sub-fund, and a cur- rent investment interest in the stocks must exist in the view of the Management Company. The value of the contributions in kind must be assessed by the Auditors. All costs incurred in this conjunction (including the cost of the auditor, other expenses as well as possible taxes and duties) shall be borne by the respective Investor and may not be charged to the respective sub-fund. The issue of units if this appears to be necessary in the public interest or to protect the manage- ment company or the UCITS or the investors. In this case, the depositary will instantly re- fund, less interest, incoming payments for subscription requests that have yet to be ful- filled, and for this purpose may enlist the help of the paying agents. Trading can be suspended in cases pursuant to Art. 12. Units shall in particular be temporarily suspended if repurchased on each valuation day (repurchase day) at the net asset value per unit ceases of the respective unit class of the UCITS, and the net asset value shall be calculated as at the valuation day, less repurchase charges, taxes and fees, if any. Repurchase requests must be received by the depositary on the acceptance deadline at the latest. If a repurchase request is received after the acceptance deadline, it will be scheduled for the next following repurchase day. Purchase or redemption requests submitted to distributors in Liechtenstein or abroad may be subject to earlier deadlines in order to assure that they can be forwarded to the depositary in Liechtenstein in a timely manner. On request, the respective distributors will provide pertinent information. Information on the redemption day, the valuation interval, the acceptance deadline, and the maximum redemption premium, if any, is provided in Annex A "The UCITS at a glance". Since the UCITS must maintain an adequate amount of liquidity, the payment of re- deemed units will take place within five bank business days after the respective re- demption day. However, the management company is entitled to extend this period if the 5-day period should prove to be calculatedtoo short due to local holidays in Vietnam or Liech- tenstein. If units cease This does not apply in case the transfer of the redemption sum proves impossi- ble due to legal constraints such as currency export and cross-border payment re- strictions or due to other circumstances beyond the control of the depositary. If, on request by the investor, the payment is to be issuedmade in a currency other than the currency in which the respective units are denominated, the Investors amount payable shall be informed calculated on the basis of the proceeds from the conversion of the accounting curren- cy into the payment currency, less fees and charges, if any. When the repurchase price is paid, the respective unit shall become void. The trust agreement: Art. 8 Repurchase of units If the execution of a repurchase request causes the respective investor's holdings to fall below the minimum holdings of the respective unit class as indicated in Annex A "The UCITS at a glance", the management company may, without delay notifying the investor, treat the repurchase request as a request for redeeming all units of the respective unit class held by the investor or as a request to exchange the remaining units into another unit class of the UCITS with the same reference currency, provided the investor fulfills its terms of participation. The management company and/or the depositary may redeem units without the in- vestor's consent against payment of the repurchase price to the extent that this ap- pears to be in the organ interest of publication as well as or for the protection of investors, the management com- pany or the UCITS, particularly when 1. there is reason to suspect that with the purchase of units, a given investor is pursu- ing market timing, late trading or other market techniques that could be detri- mental to all other investors, 2. the investor does not fulfill the conditions for purchasing units, or 3. units are being distributed in a country in which the media specified in UCITS is not approved for dis- tribution or have been purchased by a person who is not allowed to purchase units. The management company shall assure that the Prospectus and in repurchase of units shall be booked on the Trust Agreement or by means basis of permanent data carriers (letter, fax, e-mail or comparable) about a net asset value per unit that is not known to the reason and investor at the timing time of the cessationrequest (forward pricing). The repurchase of fund units may be suspended in cases pursuant to Art. 12. Redemptions in kind are not permitted.

Issue of Units. Units of a sub-fund the UCITS may be acquired in accordance with Appendix A "Overview of the sub-fundFund" at the net asset value per unit of the corresponding unit class of the corresponding sub-fundUCITS, plus the possible due issue premium and plus any possible taxes and duties. The units are not certificated as securities. Subscription applications must be submitted to the Custodian at the latest by the acceptance deadline. If a subscription order is received after the acceptance deadline, it shall be reserved for the following valuation date. In the case of orders appli- cations placed with distribution agents in Liechtenstein and abroad, earlier deadlines for the subscription of orders may be set to ensure the punctual forwarding of these orders to the Custodian in Liechtenstein. These deadlines may be obtained ob- tained from the individual distribution agents. Information about the issue date, the valuation interval, the acceptance deadline as well as the level of the possible due maximum issue premium is set out in Appendix A "Overview of the sub-fundFund". The payment Payment must be received within two bank working days following the valuation date on which the issue price of the units was stipulateddate. The Management Company shall ensure that the issue of units is settled on the basis of a net asset value per unit that is unknown to the Investor investor at the time of the application (forward pricing). All taxes and duties incurred in conjunction with the issue of units shall also be charged to the Investorinvestor. If units are ac- quired through banks that have not been entrusted with the distribution of the units, it shall will not be possible to exclude the possibility that such banks may impose additional transaction chargesfees. If the payment is made in a currency other than the reference currency, the equivalent sum derived from the conversion of the payment currency into the reference currency, less any possible charges, shall be used to acquire units. The minimum investment that must be held by an Investor in a specific unit class is set out in Appendix. A, Appendix A "Overview of the sub-fundFund". The minimum investment may be waived at the complete discretion of the Management Company. The Management Company may furthermore also decide to suspend the issue of units on a complete or temporary basis if new investments might hinder the attainment of the investment objective. At the request of an Investorinvestor, units may with the approval of the Management Company also be subscribed in return for the assignment of investments at the respective daily rate (contribution of tangible assets or payment in specie). The Management Company is not obliged to accept an application of this nature. Contributions in kind shall be assessed and evaluated by the Management Company on the basis of objective criteria. The assigned investments must be in accordance with the investment policy of the corresponding sub-fundUCITS, and a cur- rent current investment interest in- terest in the stocks must exist in the view of the Management Company. The value of the contributions in kind must be assessed by the Auditors. All costs incurred in this conjunction (including the cost of the auditor, other expenses as well as possible taxes and duties) shall be borne by the respective Investor and may not be charged to the respective sub-fundassets. The issue of units shall in particular be temporarily suspended if the net asset value per unit ceases to be calculated. If units cease to be issued, the Investors investors shall be informed without delay in the organ of publication as well as in the media specified in the Prospectus and in the Trust Agreement or by means of permanent data carriers (letter, fax, e-mail or comparable) about the reason and the timing of the cessation.

Issue of Units. Units of a sub-fund may shall be acquired in accordance with Appendix A "Overview of the sub-fund" issued on every issue date at the net asset value per unit of the corresponding AIF or unit class of as at the corresponding sub-fundvaluation date, plus the possible due any applicable issue premium commission and plus any possible taxes and duties. The units are exist only in book-entry form. Units shall not certificated as securitiesbe issued or redeemed in fractions. No physical unit certificates shall be issued. Subscription applications must be submitted to reach the Custodian at the latest by Depositary not later than the acceptance deadline. If a subscription order application is received after the acceptance deadline, it shall be reserved held over for the following valuation next issue date. In With the case agreement of orders the investor concerned the AIFM may accept subscription applications even after said deadline, providing this does not disadvantage other investors. For applications placed with distribution agents authorised distributors in Liechtenstein and abroad, earlier deadlines for the subscription of orders may be set for submission of applications in order to ensure the punctual forwarding of these orders to the Custodian Depositary in Liechtenstein. These Such earlier deadlines may be obtained from the individual distribution agentsrelevant authorised distributor. Information about on the issue date, the valuation interval, the acceptance deadline as well as and the level maximum amount of the possible due maximum any applicable issue premium commission is set out given in Appendix A Annex B, "Overview of the sub-fundAIF summary". Payment must be made within a specified period (value date). The value date is indicated in Annex B, "AIF summary". The payment must be received within two bank working days following the valuation date on which the issue price of the units was stipulated. The Management Company AIFM shall ensure that the issue of settlement for newly issued units is settled made on the basis of a net asset value per unit that is unknown to the Investor investor at the time of the subscription application was made (forward pricing). All taxes and duties incurred in conjunction with payable on the issue of units shall also likewise be charged to the Investorinvestors. If units are ac- quired acquired through banks that have are not been entrusted with the distribution of distributing the units, it shall the possibility cannot be possible to exclude the possibility ruled out that such banks may impose will levy additional transaction charges. If the payment is made in a currency other than the reference accounting currency, the equivalent sum derived value resulting from the conversion of the payment currency into the reference accounting currency, less any possible chargesminus fees, shall be used applied to acquire the purchase of units. The minimum investment that an investor must be held by an Investor hold in a specific particular unit class is set out stated in Appendix. AAnnex B, "Overview of the sub-fundAIF summary". The minimum investment may be waived at the complete discretion of the Management Company. The Management Company may furthermore also decide to suspend the issue of units on a complete or temporary basis if new investments might hinder the attainment of the investment objective. At the request of an Investor, units may with the approval of the Management Company also be subscribed in return for the assignment of investments at the respective daily rate (contribution of tangible assets or payment in specie). The Management Company is not obliged to accept an application of this nature. Contributions in kind shall not be assessed and evaluated by the Management Company on the basis of objective criteriapermitted. The assigned investments must AIFM and the Depositary shall be entitled at any time to reject a subscription application or to temporarily restrict, suspend or permanently halt the issue of units if they deem such a move to be in accordance with the investment policy best interests of the corresponding sub-fundinvestors, and a cur- rent investment interest in the stocks must exist in public interest or necessary for the view protection of the Management Company. The value AIFM, the AIF or the investors and in particular if (i) there is cause to suspect that, in acquiring the units, the investors concerned are engaging in market timing, late trading or other market techniques that may be to the collective detriment of the contributions investors, (ii) the investors do not meet the conditions for acquiring the units, or (iii) the units have been distributed in kind must be assessed by a country in which the AuditorsAIF is not approved or authorised. All costs incurred In this event the Depositary shall reimburse, without interest, any payments received in this conjunction (including respect of subscription applications that have not yet been executed1, where necessary through the cost offices of the auditor, other expenses as well as possible taxes and duties) shall be borne by the respective Investor and may not be charged to the respective sub-fundpaying agents. The issue of Fund units shall in particular may be temporarily suspended if the net asset value per unit ceases to be calculated. If units cease to be issued, the Investors shall be informed without delay in the organ eventualities envisaged in Art. 32 of publication as well as in this Trust Agreement. 1 These might, for instance, include payments made without delivery (advance payments to the media specified in the Prospectus and in the Trust Agreement or by means of permanent data carriers (letter, fax, e-mail or comparable) about the reason and the timing of the cessationAIF).

Issue of Units. Units of a sub-fund may shall be acquired issued on the acceptance deadline for unit transactions in accordance with Appendix A "Overview of the sub-fundFund" at the net asset value per unit of the corresponding unit class of the corresponding sub-fundUCITS, plus the possible due issue premium and plus any possible taxes and duties. The units are not certificated as securities. Subscription applications must be submitted to the Custodian at the latest by the acceptance deadline. deadline If a subscription order application is received after the acceptance deadline, then it shall will be reserved for the following valuation issue date. In the case of orders applications placed with distribution agents in Liechtenstein and abroad, earlier deadlines for the subscription of orders may be set to ensure the punctual forwarding of these orders to the Custodian in Liechtenstein. These deadlines may be obtained from the individual distribution agents. Information about the issue date, the valuation interval, the acceptance deadline as well as the level of the possible due maximum issue premium is set out in Appendix A "Overview of the sub-fundFund". The payment must be received within two bank working days following the valuation date on which the issue price of the units was stipulated. The Management Company shall ensure that the issue of units is settled on the basis of a net asset value per unit that is unknown to the Investor investor at the time of the application (forward pricing). All taxes and duties incurred in conjunction with the issue of units shall also be charged to the Investorinvestor. If units are ac- quired through banks that have not been entrusted with the distribution of the units, it shall will not be possible to exclude the possibility that such banks may impose additional transaction chargesfees. If the payment is made in a currency other than the reference currency, the equivalent sum derived from the conversion of the payment currency into the reference currency, less any possible charges, shall be used to acquire units. The minimum investment that must be held by an Investor in a specific unit class is set out in Appendix. A, Appendix A "Overview of the sub-fundFund". The minimum investment may be waived at the complete discretion of the Management Company. The Management Company may furthermore also decide to suspend the issue of units on a complete or temporary basis if new investments might hinder the attainment of the investment objective. At the request of an Investor, units may with the approval of the Management Company also be subscribed in return for the assignment of investments at the respective daily rate (contribution of tangible assets or payment in specie). The Management Company is not obliged to accept an application of this nature. Contributions in kind are permitted and shall be assessed and evaluated by the Management Company on the basis of objective criteria. The assigned investments must be procedures and the principles applicable to the provision of contributions in accordance with the investment policy of the corresponding sub-fund, and a cur- rent investment interest kind are described in greater detail in the stocks must exist in the view of the Management CompanyProspectus. The intrinsic value of the contributions contribution in kind must be assessed by the Auditors. All costs incurred in this conjunction (including Auditor and the cost of the auditor, other expenses as well as possible taxes and duties) shall be borne by the respective Investor and this assessment may not be charged to the respective sub-fundassets of the UCITS. The Custodian and/or the Management Company may reject a subscription application at any time or may temporarily restrict, suspend or definitively discontinue the issue of units if this is deemed necessary in the interest of the investors, in the public interest, to protect the Management Company or the UCITS or the investors. In this case the Custodian shall reimburse incoming payments on subscription applications that have not yet been executed, without interest. If nec- ▇▇▇▇▇▇, this shall be performed with the support of the Payment Agents. The issue of Fund units shall in particular may be temporarily suspended if the net asset value per unit ceases to be calculatedArt. If units cease to be issued, the Investors shall be informed without delay in the organ of publication as well as in the media specified in the Prospectus and in the Trust Agreement or by means of permanent data carriers (letter, fax, e-mail or comparable) about the reason and the timing of the cessation12 is applicable.