Commentaries: Art. 126t

The permitted real estate investments of an L-QIF in the legal form of the contractual fund or a SICAV must be expressly described in the fund contract or the investment regulations.
The real estate and mortgage notes or other contractual charges on property must be entered in the land register in the name of the fund management company or the SICAV, noting the affiliation to the L-QIF. If the L-QIF has subfunds, it must be noted to which subfund the property, mortgage note or other contractual charges on property belongs.
The fund contract or the investment regulations must contain information on whether the L-QIF may acquire undeveloped land that is not connected to utilities and not suitable for immediate development and does not have a legally valid building permit for development. The fund contract or the investment regulations must describe the special risks associated with such investments.
If the fund management company has buildings constructed or carries out building renovations, it may credit the L-QIF's income statement for building land and buildings under construction with a building interest at the market rate for the period of preparation, construction or building renovation, provided that the costs do not exceed the estimated market value.