Special requirements for capital management companies

(1) Where a capital management company manages a master fund and a feeder fund, it must be organised such that the risk of conflicts of interest between the feeder fund and the master fund, or between the feeder fund and other investors of the master fund, is kept to a minimum. The capital management company must in particular lay down suitable rules on the costs and fees to be borne by the feeder fund. Where applicable, it must lay down suitable rules on rebates from the master fund to the feeder fund, and on the unit or share classes of the master fund that may be acquired by feeder funds.
(2) In applying appropriate principles and procedures under section 26(6) to prevent impairments of market stability and market integrity, appropriate measures must in particular be taken to coordinate the timetables for calculating and publishing the value of investment funds, in particular of master funds and feeder funds.