Art. 69

(Art. 92 ff. CISA)

1. Umbrella funds may only comprise subfunds of the same type.
2. The following types of fund qualify:
   1. securities funds;
   2. real estate funds;
   3. other funds for traditional investments;
   4. other funds for alternative investments.
3. In the case of collective investment schemes which include subfunds, the investment restrictions and techniques for each individual subfund apply.