Definitions

1. For the purpose of presenting information on past performance the following definitions shall apply:

(a) 'UCITS' means a UCITS authorised in accordance with Article 5 of Directive 2009/65/EC which:

(i) is a Category 2 PRIIP as set out in point 5 of Annex II; and

(ii) does not provide retail investors, at certain predetermined dates, with algorithm-based payoffs that are linked to the performance, or to the realisation of price changes or other conditions, of financial assets, indices or reference portfolios or have similar features;

(b) 'AIF' means an AIF as defined in Article 4(1), point (a) of Directive 2011/61/EU which:

(i) is a Category 2 PRIIP as set out in point 5 of Annex II;

(ii) is an open-ended AIF as referred to in Article 1(2) of Commission Delegated Regulation (EU) No 694/2014 [Commission Delegated Regulation (EU) No 694/2014 of 17 December 2013 supplementing Directive 2011/61/EU of the European Parliament and of the Council with regard to regulatory technical standards determining types of alternative investment fund managers (OJ L 183, 24.6.2014, p. 18).]; and