A. The UCITS regime is a product framework intended to be suitable for retail investors. The framework contains various requirements designed to support investor protection, including rules around eligible assets, diversification, liquidity, valuation, risk management, compliance and oversight, and safekeeping of assets. It is a matter for the UCITS to ensure compliance with these requirements.

In particular, when formulating the investment objective and strategy of a UCITS, it should be noted that:

- Regulation 69 of the UCITS Regulations requires that “A management company or an investment company shall employ a risk-management process which enables it to monitor and measure at any time the risk of the UCITS’ positions and their contribution to the overall risk profile of the portfolio of assets of the UCITS.” Such a ris

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