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Glossary

Fund rules / statute

Fund rules, or the statute, are the founding documents that set out how a fund operates, including its objective, duration, investor rights and the conditions for subscriptions and redemptions.

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Short answerFund rules, or the statute, are the founding documents that set out how a fund operates, including its objective, duration, investor rights and the conditions for subscriptions and redemptions.

Fund rules, also called the statute or instruments of incorporation, are the founding documents that set out how a fund operates, including its objective, duration, the rights of investors and the conditions for subscriptions and redemptions.

Why it matters

For an ELTIF, the rules must clearly state the end date of the fund's life and may allow a temporary extension. Redemptions during the life are possible only if the rules permit them. The rules may also allow matching of units, but they may not prevent investors from transferring units to third parties other than the manager.

What to watch for

What the rules allow and what the manager actually offers can differ, so read the redemption policy together with the prospectus. Pay attention to how the rules can be changed and who decides. See ELTIF documentation and prospectus.

Primary sources

General information. Not investment advice or a suitability assessment.

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