Art. 126r

The fund contract of an L-QIF in the legal form of the contractual fund or the investment regulations of a SICAV must regulate the extent to which the L-QIF may make investments in other collective investment schemes (target funds). If this involves a significant portion of the fund assets, then:

1. the fund contract or the investment regulations must state the maximum amount of the management fees to be borne by the L-QIF itself and by the target funds;
2. the annual report must state the maximum amount of the management fees to be borne by the L-QIF on the one hand and the target funds on the other.