An L-QIF in the legal form of a contractual fund is managed by a fund management company.
The fund management company may delegate the investment decisions under the conditions set out in Articles 14 paragraph 1 and 35 FinIA1to:
a manager of collective assets in accordance with Article 2 paragraph 1 letter c FinIA;
a foreign manager of collective assets if:
1. they are subject to appropriate regulation and supervision in their country of domicile, and
2. an agreement on cooperation and the exchange of information exists between FINMA and the competent foreign supervisory authority, insofar as such an agreement is required by foreign law.
The manager of collective assets may delegate investment decisions to persons in accordance with paragraph 2 of this provision subject to the conditions set out in Article 14 paragraph 1 and Article 27 paragraph 1 FinIA.
The fund contract must specify to whom the investment decisions are delegated.