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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 27 May 2019 - onwards
    Version 1 of 1    

Regulation 74 Performance fees

(1) Where a UCITS provides for the payment of performance fees, a responsible person shall, in the prospectus of the relevant UCITS, disclose the following:

(a) that the UCITS provides for the payment of performance fees;

(b) the calculation period for determining the performance fees;

(c) the first calculation period;

(d) how the performance fees are calculated;

(e) the percentage performance fee payable;

(f) the accrual basis of the performance fees and when the performance fees are actually paid;

(g) a risk warning that performance fees are based on net realised and net unrealised gains and losses as at the end of each calculation period and as a result, performance fees may be paid on unrealised gains which may subsequently never be realised;

(h) where a UCITS has multiple managers or advisers, a risk warning that it is possible that performance fees may be payable to one or more of the investment managers or advisers where the overall net asset value of the fund may not have incre

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