(Article 22(2)(a) to (e) and Articles 23(4) and 24(1) of Directive 2011/61/EU)
1. The information referred to in Article 23(4) of Directive 2011/61/EU shall be presented in a clear and understandable way.
2. When disclosing the percentage of the AIF's assets which are subject to special arrangements arising from their illiquid nature in accordance with Article 23(4)(a) of Directive 2011/61/EU the AIFM shall:
(a) provide an overview of any special arrangements in place including whether they relate to side pockets, gates or other similar arrangements, the valuation methodology applied to assets which are subject to such arrangements and how management and performance fees apply to these assets;
(b) disclose this information as part of the AIF's periodic reporting to investors, as required by the AIF's rules or instruments of incorporation, or at the same time as the prospectus and offering document and - as a minimum - at the same time as the annual report is made available in accordanc
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