(1) Where the investment conditions of a domestic UCITS or of an Other Investment Fund are, in the course of conversion into a feeder fund, approved for the first time as the investment conditions of this feeder fund, or where the investment of a feeder fund in units of a master fund is approved afresh on an intended change of master fund under section 171(1), the capital management company must make the following information available to investors: 1. a notice that the Federal Institute has approved the investment of the feeder fund in units of the master fund, 2. the key information document under Regulation (EU) No 1286/2014 or the key investor information under sections 164 and 166 or under Article 78 of Directive 2009/65/EC concerning the feeder fund and the master fund, 3. the date of the first investment of the feeder fund in the master fund or, where it has already invested in the master fund, the date of the day on which its investments will exceed the investment limits previously applicable to it, and 4. a notice that investors have the right, within 30 days, to demand the redemption of their units free of charge, where applicable subject to deduction of the fees incurred to cover the costs of redemption. This information must be made available on a durable medium no later than 30 days before the date named in the first sentence, point 3. The period named in the first sentence, point 4, begins upon receipt of the information.
(2) Where an EU UCITS has been converted into an EU feeder UCITS, or an EU UCITS as feeder fund changes its master fund, and the EU UCITS or the EU feeder UCITS has already been notified for distribution under section 310, the information named in Article 64(1) of Directive 2009/65/EC must be made available to investors in the German language on a durable medium. The EU UCITS management company or the capital management company managing the EU feeder UCITS is responsible for preparing the translation. The translation must accurately and completely reflect the content of the original.
(3) The capital management company may, for the account of the feeder fund, before the expiry of the period named in subsection (1), second sentence, acquire units of the master fund only having regard to the investment limits previously applicable.
(4) In the cases of conversion into a feeder fund under subsection (1), the transfer of all assets of the investment fund converted into the feeder fund to the master fund, against the issue of units in the master fund, is permissible.
Subdivision 3
Merger of Open-Ended Retail Investment Funds