Definition of qualified investors

The following pages are intended for professional investors domiciled in Austria. You may, in particular, also obtain data on certified public investment funds which have not been approved for sale in Austria (see point 2.3 below). Professional investors have sufficient experience, skill and expert knowledge, in accordance with the prevalent legislation, and are thereby able to make their own investment decisions and assess the associated risks. Included are, in particular, supervised financial intermediaries (banks, securities companies, etc.), insurance companies, public bodies and pension funds, as well as companies which fulfil at least two of the following criteria: total assets of at least EUR 20 million, net turnover of at least EUR 40 million, own funds of a minimum of EUR 2 million.

Definition of qualified investors

The following pages are intended for qualified investors within the meaning of the Federal Act on Collective Investment Schemes dated June 23, 2006 and with domicile in Switzerland. You may in particular also obtain details on investment funds that have not been approved for distribution in Switzerland (see point 2.3 below). Qualified investors within the meaning of the Federal Act on Collective Investment Schemes dated June 23, 2006 are: • supervised financial intermediaries (banks, securities dealers, fund management companies, asset managers of collective investment schemes and central banks); • supervised insurance companies; • public entities and retirement benefit institutions (pension funds) as well as companies with professional treasury operations. The requirement of the professional treasury is deemed fulfilled when the investor has entrusted as least one suitably qualified person with experience in the financial sector to manage his finances on an ongoing basis. • high net worth individuals declaring in writing that they want to be treated as qualified investors and which provide proof that (i) they possess financial assets of at least CHF 500.000 and as well that they have a sufficient academic or professional experience to understand the investment risks, or (ii) that they possess financial assets of at least CHF 5 million with immovable assets of max. CHF 2 million. These requirements must be met at the time of the following agreement on these legal provisions at the bottom of this page. • investors having concluded a discretionary asset management agreement with (i) regulated financial intermediaries or (ii) with independent asset managers, provided that the independent asset manager is subject to the Swiss law on anti-money laundering, bound to business rules of an organisation of the financial sector that is recognised by the FINMA and the asset management agreement is in compliance with the recognised standards of the aforementioned organisation and (iii) provided that they do not declare in writing that they want to be treated as non-qualified investors.